- The under Construction property location In Palghar
- The property was booked both units ( Flat & Shop ) on Feb 2013.
- The agreement was executed according to with the Maharashtra Ownership of Flats Act ("MOFA") on July 2015.
- In the July 2015 executed agreements, but the Promoter omitted the date of possession.
- The Promoter failed to provide possession of the Said Flat and Said Shop within the time frame specified.
- A society has not been established or Registered till Now.
- No Home Loan outstanding.
- Now Due To Delayed Possession: The first owner (seller) wishes to withdraw from the project and cancel the registrations.
- According the project's promoter, due to a lack of financing Builder requests that the seller resell both units under Tripartite Agreements and refund the money.
- Instead of surrendering property units, the builder is requesting that Tripartite Agreements be used to offer resale units.
- The builder will find a new buyer/investor and complete the process.
- The new buyer will first deposit 100% of the purchase price into the seller's account.
- The flat will be registered/transferred to the new buyer Tripartite Agreements once the entire purchase payment is deposited into the seller's account
I need help for A tri-party agreement in India has various terms and conditions that must be adhered to before finalizing the sale. What Precaution should take .