Land devlopment rights

Nilesh (Querist) 29 August 2011 This query is : Resolved
Whether Land Development Agreement amounts to Transfer? Whether person entering into agreement with the owner gets the power of attorney on such land, along with the built up Shed/ premises hypothecate the property to Bank? Is there any Case Law Supporting this.

Thanks
Nilesh Musale

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Guest (Expert) 29 August 2011
agreement is not amount to transfer under contract act or transfer of property act. It is only an intention to do certain things.
Power of attorney is under different footing. but condition preveils and it is done on behalf of principal as agent. if Power deed authorised to do so whatever by agent he can do.

Raj Kumar Makkad (Expert) 29 August 2011
This is neither GPA nor transfer of title rather this is a specific agreement which is being executed as per terms and conditions entered therein and if violation is specified then also clauses of that agreement are to be seen for solution to problem.

Sailesh Kumar Shah (Expert) 30 August 2011
i am agreed with experts.

Nilesh (Querist) 01 September 2011
Thank You Mr. S Ganesan & Mr. Raj Kumar Makkad.

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