Purchase of assignment agreement property
Som
(Querist) 11 June 2017
This query is : Resolved
The project was started may be in 2008.
Mr X has entered into Aggrement to sell and construction with builder in Jul 08.
Possession letter given in 2011.
It was not registered then.
Now Mr X willing to sell the apartment as I shown interest.
Advance paid, MOU done, agreement to sell and construction executed b/w me, builder and Mr X.
Now the property will be registered by the builder to me directly where Mr X will be consent witness.
Mr X is willing to give a notorised GPA due to busy schedule. Builder is OK with it.
I am going for a loan and bank is also OK with it.
Are the things clear. Any precautions to be taken.
Kumar Doab
(Expert) 11 June 2017
'Buyer Beware'
applies to property deals.
Engage a very able senior counsel of unshakable repute and integrity specializing in revenue/property matters for a proper legal opinion.
It may cost some FEE but can help to protect hard earned monies and long term interest.
Dr J C Vashista
(Expert) 12 June 2017
Consult a local lawyer with documents, if your story is based on true facts, which is like a poem.
Advocate Suneel Moudgil
(Expert) 12 June 2017
Properly advised by Mr kumar and Dr Vashista
Hire advocate, avoid risk
R.K Nanda
(Expert) 12 June 2017
contact local lawyer.
Kumar Doab
(Expert) 12 June 2017
Thanks for agreeing with me Mr. Suneel Moudgil .
Kumar Doab
(Expert) 12 June 2017
Appreciating poem, poetry like finesse of Vashistaji, I would like to post a couplet:
‘Bare Badnaseeb the jo kraar tak na pahunche
Dare yaar tak pahunche, dil-e-yaar tak na pahunche’
{They are unfortunate, they did not attain fulfillment.
They reached door of beloved, they did not reach heart of the beloved}
Kumar Doab
(Expert) 12 June 2017
It is not poem or poetry by me.
Kindly excuse the error if any in translation.
For a buyer it is always better to obtain proper legal opinion, before making payment and signing on dotted line anywhere.
Kumar Doab
(Expert) 12 June 2017
Someone may believe that the lender shall also charge some FEE for legal check of document.
The lender shall not forgo its good money lent to borrower even if there was any error in opinion from lawyer’s on its panel.
The lender shall not seek any forgiveness from borrower for any error, oversight, transgression.
Kumar Doab
(Expert) 12 June 2017
Engage a very able senior counsel of unshakable repute and integrity specializing in revenue/property matters for a proper legal opinion.
It may cost some FEE but can help to protect hard earned monies and long term interest.
If your own counsel opines to stay away from property, then stay away, even if it is being financed by some Bank/Lender.
Kumar Doab
(Expert) 12 June 2017
The one's that err may have to recite:
‘Bare Badnaseeb the jo kraar tak na pahunche
Dare yaar tak pahunche, dil-e-yaar tak na pahunche’
Hemant Agarwal
(Expert) 12 June 2017
SOM:
1. Notarized GPA, for immovable property is as good as "toilet paper", fit for flushing down the sewage drain.
2. POA "for immovable property", MUST compulsorily be stamp duty paid and registered, for it to be legally enforceable.
Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
Kumar Doab
(Expert) 14 June 2017
Shri Hemant Agarwal is precise and concise.
Appreciated.
