April 2022 - Page 5 of 10

LIST OF REQUIRE DOCUMENTS FOR DEEMED CONVEYANCE

LIST OF REQUIRE DOCUMENTS FOR DEEMED CONVEYANCE

Stamp duty proof Index-II/Agreements
Layout plan (Blue Prints of all plans)
Completion Certificate
Commencement Certificate
N.A. Order
Latest 7/12 Extract/Property Card
Development Agreement & Power of Attorney
Society’s GB Resolution for Deemed Conveyance/Conveyance Deed
Notice to Builder for Conveyance Deed
Society Registration Certificate
Search Title Report

Sample Agreement Between Builder & Flat Purchaser

By admin|April 22nd, 2022|List of Documents Required for Deemed Conveyance|Comments Off

Advocate for Sale Deed in Nasik

Advocate for Sale Deed

A Sale deed is an instrument which shows the transfer of title, rights, and ownership of a property from a owner/vendor/ seller to a buyer/purchaser

A sale deed is an essential document for both the parties which are registered in accordance with the Registration Act, 1908. It is signed and executed as mentioned in the agreement after both the parties agree with the terms & conditions thereof

In general, this instrument of sale deed must content below-mentioned details-

The parties to the deed- the full name & address, age & occupation of the parties involved.
Detailed description of the property being transferred- Gat/Survey/CTS Numbers, Areas of the property, correct address, dimensions of the property, construction details of the building etc…
Bindings relating to Indemnity & encumbrances – This includes a declaration from the seller that the property being transferred is free from every encumbrance, litigation, and charge. Also, the seller indemnifies the buyer from any pending charges in that regard. The seller should settle a pending loan taken with the concerned property as a mortgage, before proceeding with the sale. The buyer has every right to examine the related documents before registration.
The agreed consideration- This is the price at which the deal is closed between the parties. This section should also mention the advance amount paid if there is any. The parties should explicitly agree on the dates of payment, the mode of payment, etc. The price and the details of the transactions made should be mentioned in both figures and numbers. The sale deed should also mention the receipts of the sale transaction.
Delivery of the possession of the property- the deed should specifically mention the date of handover to and possession by the buyer.

General precautions before execution of sale deed

Ensure the title search is done.
Issuance of public notice – to ensure there are no encumbrances like lien, mortgage etc.
Above is the general information
FOR MORE DETAILS DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 22nd, 2022|Advocate for Sale Deed in Nasik|Comments Off

Advocate for property transfer in Nasik

Advocate for property transfer

DUE DILIGENCE TO BE DONE WHILE PURCHASING A PROPERTY

First comes in the checklist is the Zone.Check it whether the property comes into the “R” OR “NON-AGRICULTURE” zone because if the the property is in non residential or non agriculture zone like green zone etc.you may not get approvals from authorities like MC for commencement of construction or if you get permission for construction in other zone, than R zone, the F.S.I granted for other zones is comparatively less.
The second must thing to do is “TITLE SEARCH”.
Title search is must to do, but not enough, to ensure the property is without encumbrances,then what?
Then the most important thing to be done after the title search is PUBLIC NOTICE.Public notice is meant for inviting any objections or claims regarding the property,this will make you aware if the land owner is playing double and has sold the same plot to somebody else also and if within the desired period no objections/claims are raised, you can move on.
Next if the Landowner is handing over immediate possession go for a registered sale deed.
If the Landowner has promised, future possession, its better to go with agreement to sale and the consideration to be paid in part and the payment should be done through the negotiable instrument like Cheque/D.D or bank transfer NEFT/RTGS .In no case you should go for Cash transaction, There are likely chances of deciet or fraud in Cash transaction.
After a registered sale deed get the mutation entry done.see that your name has been arrived on the property card.
Above are the general precautions to be taken.

FOR MORE DETAILS DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 22nd, 2022|Advocate for property transfer in Nasik|Comments Off

Advocate for Agreement of Sale in Nasik

Advocate for Agreement of Sale in Nasik

The agreement of sale shows the willingness of the parties to buy/sell the property in future upon the satisfaction of certain terms and conditions. However, since it does not involve an immediate transfer of ownership, the buyer has no right and interest in the property in question until the execution of the sale deed and full and final payment towards consideration agreed upon by the concerned parties to the agreement.

This agreement specifies the terms and conditions under which the property may be transferred.

This instrument of an agreement of sale shall contents the following terms:

Detailed description of the property and concerned parties
Disclaimer that the property is free from legal encumbrances
Value of the property including payment details
Delivery of the original documents on the final payment
Execution of sale deed and registration of the same if the titles are found good
Method of property delivery
Payment refund in case of improper titles
Action course for non-completion of sale on the part of the seller
Loss of advance payment if the purchaser fails to complete the transaction
Remedy if legal issues besiege the property
Transfer of tax-related certificates
All other matters related to the proposed sale

FOR MORE DETAILS DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 22nd, 2022|Advocate for Agreement of Sale in Nasik|Comments Off

Advocate for Agreement and Sale Deed in Nasik

Advocate for Agreement and Sale Deed

Want to purchase a Flat? If Yes, Please Be Carefull so you may not fall prey to the frivilious offers by decietfull builders and developers .

While purchasing the Flat Property you should take the following care/ due diligence.

Prefer a ready to move property rather an under construction property.If property is ready to move see that if the project has any tie ups with nationalised banks ,if so the project is safe to invest because bank offers assitance to a project or scheme, after due diligence.Or else first thing to do is,to get the title search done.If title is clear than go for bank loan, because banks while granting loan takes due diligence while lending financial assistance. This again will be a safety check for verification and authentication of builder as well as project, if there are any existing encumbrances on the said property.If the bank is ready to sanction loan means there is absence of encumbrances like mortgage or lease.
The next comes in the checklist, is verification with RERA.whether the builder/ scheme is registered with RERA, if so, confirm that he has not been blacklisted by the Authority.
Another thing to take into account while considering ready to move property is whether the scheme has been assigned completion certificate and occupancy certificate which validates, that it is ready to move property.
If it is under construction property before giving the token amount, check whether builder has got commencement certificate and other approvals from the public authorities like MSEB,MUNICIPAL CORPORATION or N.O.C from environmental dept.as well as fire and safety department.

FOR MORE QUERIES PLEASE DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 22nd, 2022|Advocate for Agreement and Sale Deed in Nasik|Comments Off

CONVEYANCE DEED

CONVEYANCE DEED

In case of housing societies the builder/promoters have to ideally create deed of conveyance and hand over it to housing societies that to within 4 months after project completion. However, due to lack of knowledge many builders do not create such documents. There have been cases where builders have later on denied to create such documents and asked additional money to provide signatures on these documents. You will find all sorts of reasons for not creating the document. This results in issues for societies in future. Therefore, government has amended the Maharashtra Ownership Flats Act, 1963 (MOFA) to make sure if builders run way from such responsibilities, the societies do not suffer. This amendment is called “Deemed Conveyance”. This amendment allows society owners to gain the legal rights of the land even if the builder is not willing to transfer the rights, in front of designated competent authority.

A valid conveyance deed must contain the following:

1. The actual demarcation of the property.

2. Other rights annexed to the property and its use.

3. The full chain of titles, that is, all legal rights up until the present seller.

4. The method of delivery of the property to the buyer.

5. A memo of the consideration, stating how it has been received.

6. Any further applicable terms and conditions for the full transfer of ownership rights.

Important points to consider, to ensure smooth purchase/sale of a property:

The seller is required to certify that the property is free of any legal encumbrance.

If a loan was taken against the property in question, then, the mortgage must be cleared before the deed is signed. Buyers have the option of having this checked at the local sub-registrar’s office.

The conveyance deed should state the exact date on which the property will be handed over to the buyer.

Within four months of the execution of the deed, all the original documents related to the sale of the property, need to be produced for registration before the local registrar.

The deed is required to be signed by at least two witnesses.

By admin|April 21st, 2022|Conveyance Deed - A Binding Contract|Comments Off

ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY IN NAGPUR

ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY:

A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obligated to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.

But you needn’t wait for the builder to form the society. In many states, including Delhi and Maharashtra, ten flat-owners are enough to promote a co-operative housing society. A building without a housing society usually indicates that there is a dispute between members or a general lack of interest. If you’re considering buying a house in a building where the society has not been formed, find out what the problem is. If the builder does not form a society, rights to the terrace and the compound continue to rest with him.

We, the “VED LEGAL” provide registration and formation services which help you at every step of society formation, right from inception to final handover. We look after all the legal complications involved in society formation and carry out necessary negotiations with developers.

We have also completed the registration process for various projects. We specialize in society formation of housing societies, commercial societies, maintenance societies and large townships. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

Our specialized services include:

Initial screening
Gap identification and ratification
Process documentation and finalization
Dispute resolution
Society name reservation at respective co-operative departments

Account formation and legal documentation

By admin|April 21st, 2022|ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY IN NAGPUR|Comments Off

Registration of Deemed Conveyance in Nagpur

Registration of Deemed Conveyance

On receipt of the Deemed Conveyance Order, the Deemed Conveyance Deed between the Competent Authority & the Society is prepared. The Competent Authority appears in the Deed on behalf of the defaulting Land Owners & Property Developers.

The Deemed Conveyance Deed is submitted to the Office of Competent Authority for Approval & their Signature with Authority Stamp & Seal.

The Special General Body of the Society is called to approve the Deemed Conveyance Deed & to nominate 3 Members of the Society to sign the Deed.

The Deemed Conveyance Deed is executed by the signature of the Competent Authority & the signatures of the 3 nominated Members of the Society.

On execution of the Deemed Conveyance Deed, it is forwarded to the District Stamp Office for Adjudication. If all the Members of the Society have paid the Stamp Duty on their respective Flat/ Shop Agreements & there is no balance FSI, the Deemed Conveyance Deed attracts only Rs. 100/- Stamp Duty. The Stamp Office issues the Adjudication Certificate.

On receipt of the Adjudication Certificate, the Society pays the required Stamp Duty & gets the Deemed Conveyance Deed Franked from local Bank.

After Franking of the Deemed Conveyance Deed, the same is submitted to the Registration Office for Registration. The Registration Office issues a notice to the Land Owners & Property Developers to verify whether they have received any Stay Order from Proper Court against the Deemed Conveyance Order.

The Proper Court for issuing the Stay Order against the Deemed Conveyance Order is High Court. It is very difficult for the Land Owners & Property Developers to obtain the Stay Order from High Court against the Deemed Conveyance Order.

If there is no Stay Order received, the Registration Office Registers the Deemed Conveyance Deed. The Competent Authority is exempted from appearing for the Registration & hence the 3 Members nominated by the Society only appear for Registration.

After Registration of the Deemed Conveyance Deed, the Registration Office issues the Scanned Document & Index II typically within 15 days.

The complete Procedure of Registration of Deemed Conveyance Deed is typically completed within 3- 4 Months. On receipt of the Index II, the Registration Process of the Deemed Conveyance Deed is successfully completed & the Society becomes the owner of the Land & Structure.

By admin|April 21st, 2022|Registration of Deemed Conveyance in Nagpur|Comments Off

Advocate for Agreement and Sale Deed in Mumbai

Advocate for Agreement and Sale Deed in Mumbai

Want to purchase a Flat? If Yes, Please Be Carefull so you may not fall prey to the frivilious offers by decietfull builders and developers .

While purchasing the Flat Property you should take the following care/ due diligence.

Prefer a ready to move property rather an under construction property.If property is ready to move see that if the project has any tie ups with nationalised banks ,if so the project is safe to invest because bank offers assitance to a project or scheme, after due diligence.Or else first thing to do is,to get the title search done.If title is clear than go for bank loan, because banks while granting loan takes due diligence while lending financial assistance. This again will be a safety check for verification and authentication of builder as well as project, if there are any existing encumbrances on the said property.If the bank is ready to sanction loan means there is absence of encumbrances like mortgage or lease.
The next comes in the checklist, is verification with RERA.whether the builder/ scheme is registered with RERA, if so, confirm that he has not been blacklisted by the Authority.
Another thing to take into account while considering ready to move property is whether the scheme has been assigned completion certificate and occupancy certificate which validates, that it is ready to move property.
If it is under construction property before giving the token amount, check whether builder has got commencement certificate and other approvals from the public authorities like MSEB,MUNICIPAL CORPORATION or N.O.C from environmental dept.as well as fire and safety department.

FOR MORE QUERIES PLEASE DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 21st, 2022|Advocate for Agreement and Sale Deed in Mumbai|Comments Off

Advocate for Agreement of Sale in Mumbai

Advocate for Agreement of Sale

The agreement of sale shows the willingness of the parties to buy/sell the property in future upon the satisfaction of certain terms and conditions. However, since it does not involve an immediate transfer of ownership, the buyer has no right and interest in the property in question until the execution of the sale deed and full and final payment towards consideration agreed upon by the concerned parties to the agreement.

This agreement specifies the terms and conditions under which the property may be transferred.

This instrument of an agreement of sale shall contents the following terms:

Detailed description of the property and concerned parties
Disclaimer that the property is free from legal encumbrances
Value of the property including payment details
Delivery of the original documents on the final payment
Execution of sale deed and registration of the same if the titles are found good
Method of property delivery
Payment refund in case of improper titles
Action course for non-completion of sale on the part of the seller
Loss of advance payment if the purchaser fails to complete the transaction
Remedy if legal issues besiege the property
Transfer of tax-related certificates
All other matters related to the proposed sale

FOR MORE DETAILS DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 21st, 2022|Advocate for Agreement of Sale in Mumbai|Comments Off