Document for purchase of flat (re-sale)
Amit
(Querist) 12 November 2011
This query is : Resolved
I want to buy a flat owned by other person. Please let me know what are legal angles I should check and what documents are need to be checked.
Thanks,
Regards,
Amit
ajay sethi
(Expert) 12 November 2011
1) obtain NOC from society
2) ask flat owner to produce share certificate
3) original agreement
4) if flat has been sold more than once chain of title
5) proof that society maintenance bills have been paid till date
Devajyoti Barman
(Expert) 12 November 2011
Yes
If the flat is not from any society managed complex then all the past deeds of ownership, perusal by a property lawyer and a careful search from the concerned Registry offices and if possible from court as well.
Rajeev Kumar
(Expert) 12 November 2011
Yes i too agree with experts
Sankaranarayanan
(Expert) 12 November 2011
no more details you need further, all details are furnished here by mr sethi.
Nadeem Qureshi
(Expert) 12 November 2011
Mr. Sethi is rightly explained all requirment
Amit
(Querist) 12 November 2011
Dear Sirs,
Thank you very much for your speedy reply.
Regards,
Amit
A V Vishal
(Expert) 12 November 2011
Documents required : The following must be checked before purchasing a flat :
Share certificates in owners name to be checked.
Agreement made by seller with the last party to be checked
Rent receipt if any to be checked
Latest society bill to be checked
Latest electricity bill to be checked
NOC letter from society to be obtained
New agreement to be entered into
Procedure for purchasing a ‘Resale of flat’
The seller/purchaser should submit the below mentioned papers/documents to the society.
Notice of Intention to Transfer (Form No.20A) & Letter of Consent of the proposed transferee. (Form No.20B) {Bye Law no. 40 (a)}
Form of application for transfer of shares and interest in the capital/property of the society by the proposed transferor. (Being an Individual) [Form No.21 (2) Bye-Law no.40 (d)(i).
Form of application for membership of the society by the proposed transferee. (Being an individual) (Form No.22)
A form of declaration for not holding immovable property in any Urban Agglomeration specified under the Urban Land (Ceiling and Regulation) Act, 1976, exceeding 500 sq.metres (to be given by the transferor on (d) (ix).
A form of declaration for not holding immovable property in any Urban Agglomeration specified under the Urban Land (Ceiling and Regulation) Act, 1976, exceeding 50 sq.metres. (To be given by the Transferee on Stamp Paper Rs. 10/-).
(Form No.25) (Bye laws Nos. 17(b), 19 (viii), 20 (iv) & 40 (d) (ix).
a form of undertaking to be furnished by the Prospective Member to use the flat for the purpose for which it is allotted, (To be given by the Transferee of Stamp paper of Rs.10/-).
(Form No. 3) [Bye Law Nos. 17(b) 19 (iv)]
Copy of the Agreement
Original Share Certificates.
Apart from these it is advisable to take a legal opinion of an advocate by submitting all the relevant documents like the sale deed, link(Parent Docs) etc... in order to avoid litigation in the future.
prabhakar singh
(Expert) 12 November 2011
In addition a public notice should also be served in any news paper of wide circulation showing intention of transfer and purchase,though legally not required.
Chanchal Nag Chowdhury
(Expert) 13 November 2011
Clear title of the vendor in the property is the first & absolute necessity.
