Transfer of property after possession letter is issued
Borahda
(Querist) 19 April 2011
This query is : Resolved
Dear Sir,
I have a property in Gurgaon which I want to resell. The builder has just finished construction and has sent me a letter of possession. But I do not want to take possession or spend money on registration of the property so I want the builder to transfer the property to the buyer who will register the property in his name. I'm willing to pay the transfer charges. But the builder is saying that a transfer is not possible after the possession letter is issued. Is this true? Any expert advice would be highly appreciated.
Regards,
Bijit
adv. rajeev ( rajoo )
(Expert) 19 April 2011
you cannot transfer it without paying the stamp duty. So you have to sell it. Builder is right.
Guest
(Expert) 19 April 2011
I agree with Rajeev.
R.Ramachandran
(Expert) 19 April 2011
I do not agree with the above views of the experts.
After all, the agreement to buy the flat will contain a clause (which you have to confirm) that the sale deed will be executed in the name of the buyer or any one of his nominee(s).
If such a clause is there, and if the sale deed has not been executed, then the original buyer can definitely ask the seller to register the property in the name of any of his nominee (in this case the fresh buyer). This is subject to the condition that at the time of handing over possession, sale deed in favour of the original purchaser has not been executed.
If the sale deed has been executed, then the above views of the experts will hold good.
Guest
(Expert) 20 April 2011
Mr. Ramachandran's disagreement is based only on presumtion of existence of one provision in the agreement, which the poser of the question has not confirmed. I hope he would like to appreciate that disagreement should always be based on solid fact of the case, NOT merely on the basis of presumption.
The views, upon which I agreed, was based on the face of the question only.
