I have bought a flat in the year 2018.my part is almost completed.but other part is yet to complete.i have done register agreement with builder and also have a bank loan.
now can I apply for sell permission??
Sale is defined in section 54 of the Transfer of Property Act as a transfer of ownership in exchange for a price paid or promised or part paid or part promised.
In a sale four ingredients are most important, namely ---
(i) it must be a transfer,
(ii) the transfer must be of full ownership,
(iii) there must be some consideration, and
(iv) the consideration would be the price paid or promised i.e. agreed to be paid or partly paid and partly promised.
In any deed of sale, these four requirements must be clearly reflected or provided.
Most of the leased premises are restricted i.e. permission of the lessor is a precondition for assignment or transfer or lease hold rights by the lessee. Such permission can be granted to the lessee or his duly authorized attorney.
The application for sale permission shall be submitted in the prescribed format (Annexure II) alongwith the documents mentioned therein. However,the check-list for processing the application is at Annexure II ‘A’).
Thus,in accordance to the law, there are two categories of persons who are legally eligible for application of the sale permission.
These are as follows:-
(i) The person or persons whose names appears on the records as lessee(s); and
(ii) Duly authorized attorney (s) of the lessee (s) in possession of registered Power of Attorney.
Therefore, as per your query,your eligible enough to apply for the sell permission.
Hope it Helps
