Registration of sale deed-contents regarding share of each vendee
Querist :
Anonymous
(Querist) 29 December 2011
This query is : Resolved
Respected Experts,
When more than one person are jointly buying a property and if their shares of contribution for the sale consideration are different i.e. to say that if they are not equal share holders in the purchased property, how to reflect the same in the sale deed. Generally there wont be any recitals in the sale deed as to the shares of each Vendee. Please explain.
adv. rajeev ( rajoo )
(Expert) 29 December 2011
It is to be mentioned in detail in the sale deed. It can be written.
s.subramanian
(Expert) 29 December 2011
you can recite the exact quantum of sale consideration paid by each and every purchaser in the sale deed. That can be a basis for the determination of the respective share of the purchasers.
prabhakar singh
(Expert) 29 December 2011
Besides mention of consideration it is lawfully possible to exactly mention the very specific share of every buyer and it can be even allocated by attaching a sketch plan with sale deed.
Devajyoti Barman
(Expert) 29 December 2011
Yes you need to make these things clear in your sale deed so the respective shares are clearly spelt out.
You should also make a schedule of payment of their respective shares.
Nadeem Qureshi
(Expert) 29 December 2011
Dear Querist
it is mendetory in sale Deed to clear all the rights & obligation, considaration , shares, Charge, expenses, possession, receipt/acknowledge of payment, transfer all the rights.
feel free to call
Deepak Nair
(Expert) 29 December 2011
You can define the shares of each vendees according to their proportion.
It is advisable to mention the shares of each buyers specifically so as to avoid issued in the future.
The experts have rightly advised you.
Querist :
Anonymous
(Querist) 31 December 2011
THANK YOU LEARNED EXPERTS,
I AM GIVEN TO UNDERSTAND THAT WE CAN HAVE A PARAGRAPH IN THE SALE DEED DEFINING THE SHARES OF EACH BUYER AND THERE IS NO BAR OR OBJECTION FROM REGISTERING AUTHORITY TO THAT EXTENT.
CORRECT ME IF I HAVE RECEIVED THE RIGHT GUIDANCE/INFORMATION.
