Our late mother had negotiated with a builder for sale of our flat in Chembur Mumbai,which was shortly under redevelopment. The builder who purchased the flat till date has never called us for registration. It's been 13 years now since the transaction has happened. Sale deed and Confirmation of Sale is not yet registered yet. While paying us amount , the builder has taken away our share certificate. Now both my mother and the builder have expired. Today the market rate is 10 times .. The same builder was supposed to construct the apartment, now has dissapointed many members who have not sold their flats. Meanwhile my mother has also filed her nomination before her death. Now , the situation is the society in which our flat stood has opted for self development and we have been called by the society member to join for self development of apartment as still the flat stands in my mother's name as per records.
My query to the experts is ,after 13 years ,can the builder claim his right over our flat. Now the market rate is 10 times more than what was sold by my mother. Are we bound to register the flat to the builder at old rate. Can we ignore and complete the process of getting issued a duplicate Share Certificate from the Housing Society. We are now in a fix. Whether to proceed or not to proceed. Today's rate of flat is making us to be greedy and to complete the formality, but at the same time fear about the builders family approach us back to claim their stake... May I request the panel to give a legal remedy to overcome this situation.
As per your concern, let me inform you that an Unregistered Sale Agreement is enforceable in Law, and any shortage of stamp charges can be paid through the Court's order. However, such an agreement will only be valid for a time period of three years from the date of it's execution.
Moreover, in case of a negative clause in the agreement, like if it is mentioned there in the agreement that the buyer has to get the property registered within three months, then in such a case the limitation period is extended by such a period i.e. mentioned time duration.
Now, in your case the major points are that the sale deed was unregistered, it has been more than 3 years, both parties that entered in the deed (your mother and builder) are no longer alive, and the deed was never proceeded with further process the sale deed that your mother formulated with the builder is no longer valid, and hence as per law there are no chances for any member to the builder to claim any sort of his or her right over the flat.
You are the sole owner of the flat after your mother's departure, and thus you have total ownership rights over the same. It's advisable that you engage a local lawyer for execution of another agreement if you're willing to, and consult with him for further process in order to clarify the concept.
Hope It Helps!
Regards,
Kevin M. Paul
