2. High-risk transaction: As mentioned above, the direct transfer of real estate under construction is a high-risk transaction. To take an example, the entire transaction is based on noc builder and the seller always insists on the direct payment from a buyer to the seller. Recently, I came across a case where the seller received 3 NOC`s for the transfer of ownership under construction. He took money from the three buyers and is on the run. As a buyer, you cannot ensure that the NOC issued by the client is the only NOC and that there is no intention of financial fraud. This is one of the examples and there can be several possibilities of financial fraud. After much research, finally focus on an apartment under construction for purchase. Their decisions are based on costs, location, development, accessibility, quality, reputation of the client, etc.
As usual, the owner promises the moon to each buyer and the buyer is impressed by brilliant brochures and sweet words from so-called sales managers. So start dreaming of living in your own apartment. Deed of sale: this is a definitive transfer of the right of ownership, which appears in full in the purchase agreement from the seller to the buyer under the seal of the civil registry office concerned, under the jurisdiction of the State. If there are a large number of sales instruments to be executed on a premise basis, government registration may, according to all procedures, create a bank in the premise. This possibility can be used by the payment of a defined fee to the student secretariat. Mahesh Chabbria, who has reserved a 3BHK unit for Noida, plans to sell this unit before even taking possession of it. A few questions bother him. Is it legal to sell before owning? Does this mean additional costs? How will he do it? Keep reading to find out. As a rule, in the case of sale of housing under construction, a tripartite agreement is concluded between the seller (who had originally booked the apartment), the buyer and the contracting authority.
Under this agreement, the seller transfers its rights to the apartment under construction to the buyer with the agreement of the contracting authority, the buyer undertakes to pay the balance of the initial purchase price to be paid to the contracting authority and the contracting authority undertakes to hand over the finished apartment directly to the buyer. The contract confers the right to acquire a particular dwelling. In order to determine the date of acquisition of such a right, it is necessary to determine when exactly that right aed aborn. No, the agreement must be notarized, the stamp is different. Illegal demolition of the ground can only occur if someone else files a lawsuit against the owner, even if it causes you inconvenience of any kind. We all know how long it takes for the courts to rule. We already have millions of cases in progress. In practical or real terms, therefore, this cannot happen (legal proceedings). Or in cases like CAMPA-COLA, where the lives of detainees are threatened. So both are extreme cases. Title deed: the bank or financial institution only provides financial support (loan) if the title of the property is clear.
Real estate must not be subject to a right of pledge or a mortgage. The contract of sale must clearly state the obligation for the seller to legally transfer ownership of the property to the buyer`s name upon completion of full payment of the property to the local registry office. To share his own thoughts: Did he know `u` THIS > indianexpress.com/article/cities/mumbai/hc-sets-aside-deemed-conveyance-for-campa-cola-housing-societies OR never seriously thought about its potentially important consequences, in the store for the victims/people concerned and all in the same way, the promoters deserve no exception/exclusion?! Out of conviction, all such or other similar cases have recently provided useful guidance; and should be deliberately taken into consideration when reorganizing and structuring – as the recently debated idea of having a fresh look at/through, the next legislation of a regulatory system for the real estate sector is promoted….
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