Agreement draft

Querist : Anonymous (Querist) 05 January 2012 This query is : Resolved
Dear Sirs
I want to draft a deed of transfer in resect of resale of a flat which is adjucent /combined with the other flat
The seller had taken a loan against two combined flats (recently separated by so into two flats with separate share cerificates and ready to issue NOC for the said proposed sale of the flat ) but the previous agreement is common for both the flats which is in the custody of bank as a mortgage now the seller is selling only one out of two combined flat loan is yet not paid he is asking the purchaser to pay off the proportionate loan aount against the said flat he want to sale and pay him the remaining amount so how many parties will be there to this agreement? and what are the imp clauses to be mentioned in the Agreement while drafting the same in the said situation? Kindly pls forward me a demo draft of the said agreement . Wheather there will b three parties to this agreement Seller Purchaser and the Bank

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Advocate. Arunagiri (Expert) 05 January 2012
Dont use the ready made drafts. Take the help of the professionals.

If you want to save a few thousands now, may lead to several problems latter.

Rajeev Kumar (Expert) 05 January 2012
Don't choose readymade draft. Please consult a versed civil lawyer. Only saving a few penny will create a lot of problem.

ajay sethi (Expert) 05 January 2012
both flats are mortgaged to the bank . first obatin noc from bank before proceeding further . unless bank gives NOc no sense in proceeding with the deal .

then obtain NOC from society .

only after you obtain these 2 letters proceed further

Deepak Nair (Expert) 05 January 2012
There will be only 2 parties in the agreement.
Follow the advise from experts Mr.Arunagiri and Mr.Sethi.

Devajyoti Barman (Expert) 05 January 2012
Yes I also advise to take help opf an advocate.

Raj Kumar Makkad (Expert) 06 January 2012
A Tripatite agreement shall be executed in the given case wherein seller, purchaser and mortgagee bank shall become party. If bank refuses to become party then the buyer should get detailed emquiry whether bank can release one flat by depositing balance amount standing against this single flat or not?

If not then the buyer should not go ahead till the property is released from mortgage.

prabhakar singh (Expert) 06 January 2012
All said all done,you do need personal services of a lawyer.

Sailesh Kumar Shah (Expert) 06 January 2012
It would be in your own interest to engage advocate, who have specialization in drafting.

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