Can unregistered agreement to sale be enforsable?
meenakshi nagori
(Querist) 03 November 2011
This query is : Resolved
fact: 1)there is a agreement to sale between two independent persons,
2) agreement to sale is for a flat which is to be constructed by trasferor through the money given by the transferee, which will be situated at the 4th floor,
3) agreement to sale is not registered,
4) on the basis of this agreement to sale, loan is given by the board of the co-operative bank to the transferee, ignoring the fact that it is not registered,
5) loan is taken by the transferee to give it to the transeror, so that, he can construct the 4th flat and make registry of the flat afterwards and give the possession,
6) loan is wholly given on the security of unregistered agreement to sale,
7) the flat is still in the name of the transferor.
question: 1) whether agreement to sale of immovable property is necessary?
2) whether loan given by the bank is wrong as security is the flat which is not yet in the name of transfree?
please help.
ajay sethi
(Expert) 03 November 2011
agreement for sale of resale flat is not required to be compulsory registerable .
since agreement has alreaady been executed application must have been made for trasnfer to society
transfer formalities tak e time . whether documents lodged with society for transfer of flat ?
R.Ramachandran
(Expert) 03 November 2011
Please indicate the following:
1. When was the loan sanctioned by the bank.
2. Whether the bank released all the loan amount.
3. Whether the loan amount received from the bank was given to the Seller or not.
4. Whether the flat has been ready and possession was given to the buyer or not.
niranjan
(Expert) 03 November 2011
As per sec.49 of the Registration Act the suit of specific performance can be filed,however as per sec.17 of the same Act,in some State,such agreement is compulsorily registrable,.
prabhakar singh
(Expert) 03 November 2011
yes, i do agreed experts query reply IS THE RIGHT ANSWER.LOCK KIYA JAYE.
Jai Karan Nagwan
(Expert) 05 November 2011
I do agree with the opinion of the all experts, if society is constituted, there is no question of of sale deed and its regn. if society is constituted deed of assignment shall be executed and that shall be registered as well.
Please appreciate queriest is talking about agreement to sale not for deed of assignment.
secondly, loanee shall forget to take any benefit of plea of non registration of deed, rather shall never think of it.
