Vishalssss (Engineer) 05 September 2011
Hello,
I want to buy a plot which is in a society.
Society manager is saying, that plot's Sale deed can not be done. Instead Ownership transfer will be there.
what is difference between Ownership transfer and Sale deed?
Does Ownership transfer keeps some right on that Plot by previous owner?
B.K.Manish (Secretary) 05 September 2011
Transfer deed is general term for all instruments like sale, gift, settlement, release etc under transfer of property act.
Sale deed is only when the sale consideration is received and recorded in the deed.
gopinathan nair (General Manager) 07 September 2011
OWNERSHIP INCLUDES FOR SALE AND ALSO PERMITTED TO DO ANYTHING IN THE PLOT OWNED BY THE PURCHASER.
AS REGARDS THE SALES DEED, AFTER GETTING OWNERSHIP, THE OWNER OF THE PLOT CAN SELL THE SAME ACCORDING TO HIS WISH UNDER THE CLAUSE OF RULES AND REGULATION OF THE SOCIETY.
THERE IS NO CONNECTION BETWEEN THE OWNERSHIP AND SALE DEED. OWNER HAS ALL POWER WHETHER IT IS SOLD OR TRANSFER TO ANY OTHER NOMINEES.
GOPINATHAN
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