SALE DEED Query for APARTMENT
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Hi,
I am party “C” and buying 20-year-old 3BHK flat from party “B” , and he has bought from “A” (i.e Builder passed away). A has given all the papers to B like, possession letter, agreement to sale etc,but no registration, at present B’s name on the property like on Electricity, and Municipality.
Now what documents and papers Do I need from previous owner “B” to stay in future without any problem? In this apartment, everyone is living with an “agreement to sale” as proof of ownership of flat.
Location – PATNA, BIHAR
Kindly help me.
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Patna,
Actually, I am staying with my family in this flat for 20 years by paying monthly rent. And this is in a prime location, already paid 80% money last year, I will give rest 20% after getting all papers.
Till now he has given me
1- Agreement to sale, B to C
2- A to B agreement to sale papers, money receipt
Not recommended to buy a 20 year old apartment until and unless it is maintained by some reputed group like tata.
usually builders register their business as companies. is there no one from group A that can come ahead and do the registration to B (B wont pay for it now) and then B transfers it to you?again you will have to pay transfer and re registration charges
if u want peace of mind then dont buy a property which is not registered in your name.
otherwise remember this song
registration fees are so high, as C has to pay to B, then B has to pay to A (their family). Total Rs.8 lakh only reg fees.
Because of the 20-year-old flat, he is selling at Rs.11 lakh. and it’s well maintained. And here the new flat cost starts from Rs.70lakh in this location.
It’s a messy business here in Delhi. I always get my tenants registered before lending and you’re buying a property without registering!!!
I think you have to mention the location since there are different rules everywhere. Is this in Mumbai? Is it worth to go for 20 year old flat because of the maintenance headache/cost and any future resale troubles? Who owns the land in Government records (A?)