purchase of apartment in Mumbai
Querist :
Anonymous
(Querist) 17 January 2011
This query is : Resolved
I wish to purchase an apartment from an investor. The investor entered into an Agreement to Sell with builder (who is holding leasehold right on the land for 30 years) at say Rs.10. Now the investor wishes to assign his right at say Rs.15 to me by a deed of assignment. I am agreeable to purchase at Rs.15 from investor provided a tripartite agreement is entered into by the developer, investor and me where builder would be vendor at Rs.10, Investor Rs.5 and I as purchaser giving Rs.15. But the Builder don't want to enter into tripartite agreement. My question is if I agree to investor's proposal is the title of said structure is absolute in my hand? If so Deed of Apartment executed by builder under Maharashtra Ownership Apartment Act 1970 will abolute my title on structure, common areas and proportionate land. Please help me since I have advanced some amount to the investor.
