Tarachand 21 December 2017

Property documents

Dear Sirs,

Actually  the said M/s. ABC Builder  has already constructed 75 % work of Tower under thier name and they had already and sold all Flats and collected 75% of sale-consideration but for some reasons they could not complete the work

Hence, they want to assign all works to M/s. XYZ Contractors with all Rights to them to receive balance sale-consideration from Purchasers of Flats. 

The Purchasers have taken Home Loan, too 

Hence the Purchasers or Banks of Purchasers may hesitate to issue Cheques in name of M/s. XYZ  Contractors  but  they  will prefer  to  issue  Cheques in the name of M/s. ABC Builder (Original Builder who has made Agreement to sale) 

Requirement :-
Hence , they want to make such Documents vide which Cheques must come in name of M/s. XYZ  Contractors  only  and  not  in the names of  M/s. ABC Builder   and such  Documents must be acceptable to the Bankers of Purchasers , too 

Please  guide  which Document and whether need to be registered or notarised 

HARIOM

Reply Follow

4 Replies

Kumar Doab (FIN) 21 December 2017

Pls post query in proper format.

So that it is easily seen and responded.

1 Like

Dr J C Vashista (Advocate) 23 December 2017

What are the facts of story and your query for consideration, forming an opinion and guidance by experts on this platform performing FREE social service?

Dr J C Vashista (Advocate) 23 December 2017

Contact, consult and engage a local prudent lawyer for proper appreciation of facts/documents, guidance and proceeding.

Tarachand 23 December 2017

Dear Sirs,

Actually M/s. ABC Builder has already constructed 75 % work of Tower in thier name and sold all Flats and collected 75% of sale-consideration but for some reasons they could not complete the work

Hence, they want to assign all works to M/s. XYZ Contractors with all Rights to them to receive balance sale-consideration from Purchasers of Flats.

The Purchasers have taken Home Loan, too

Hence the Purchasers or Banks of Purchasers may hesitate to issue Cheques in name of M/s. XYZ Contractors but they will prefer to issue Cheques in the name of M/s. ABC Builder (Original Builder who has made Agreement to sale)

Requirement :-

Hence , they want to make such Documents vide which Cheques must come in name of M/s. XYZ Contractors only and not in the names of M/s. ABC Builder and such Documents must be acceptable to the Bankers of Purchasers , too

Please guide which Document to be made and whether such doscuments need to be Registered or only Notarised

Regard

HARIOM