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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Pune > Sale deed format to purchase a resale flat in cooperative housing society
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Old January 6 2011, 01:19 PM   #1
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Default Sale deed format to purchase a resale flat in cooperative housing society

Hi,
I have recently entered into an agreement for sale with the first owner for a flat in a coopearative housing society. Whereas first owner has purchased the flat directly from the builder and first owner is a member of society and bears the society shares in his name. As we are nearing to execute the sale deed , society lawyer(legal advisor) has asked to include following clauses/conditions/description/details in the sale deed. Can somebody please provide me any sale deed which already has similar clauses/description included in more lawful language. I had my lawyer to provide me that but he is occupied with something else and doesn't has bandwidth for this now. We are very close to sale deed so I am expecting that somebody from this forum will definitely help me. I really appreciate your help in advance.

1. Mention that the SELLER has foreclosed his loan with the ICICI bank and the flat is free from all mortgages or charges; mention loan account number, foreclosure letter details
2. Mention about agreement between the original builder and the SELLER(fisrst ownership) citing serial number and date
3. Mention about agreement between the SELLER and the flat PURCHASER citing serial number and date
4. Mention that society is formed; its complete name, society registration number, society address and society formation date and society formation certificate
5. Mention that the SELLER is a member of society; the shares are issued in SELLER’s name; Mention the share certificate number and date. Mention that the SELLER agrees to apply to society to transfer the aforesaid shares and ownership in the FLAT PURCHASER’s name
6. Mention that the society has issued NOC
7. Mention that the completion certificate has been issued for the building by the authority; mention completion certificate number and date
8. Mention that as part of transferring the shares and enrolling to FLAT PURCHASER for membership , the society transfer charges has been fully paid, mention receipt number, cheque number and date
9. Mention that society maintenance bill has been paid up to Mar 2011; mention receipt number, cheque number and date
10. Mention that MSEB bill is paid till the sale deed; mention the receipt number
11. Mention that property tax for the year 2010-2011 has been paid; mention receipt number, cheque number and date

 
Old January 6 2011, 01:55 PM   #2
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This is 1st time I heard dat Society lawyer demanding sale deed consent .

Please find my comments inline:

Quote:
Originally Posted by suhail_zone View Post
Hi,
1. Mention that the SELLER has foreclosed his loan with the ICICI bank and the flat is free from all mortgages or charges; mention loan account number, foreclosure letter details

--It's not needed, you just need to submit ICICI NOC.
If needed you can add ICICI NOC as a seprate page in sale deed.

2. Mention about agreement between the original builder and the SELLER(fisrst ownership) citing serial number and date
--It's the std process, also ur advocate will add lindex || between builder and first owner.

3. Mention about agreement between the SELLER and the flat PURCHASER citing serial number and date
--It's the std process.

4. Mention that society is formed; its complete name, society registration number, society address and society formation date and society formation certificate
--ur advocate will add the society formation certi and completion certi

5. Mention that the SELLER is a member of society; the shares are issued in SELLER’s name; Mention the share certificate number and date. Mention that the SELLER agrees to apply to society to transfer the aforesaid shares and ownership in the FLAT PURCHASER’s name
--It is good for you. you need to complete the society transfer formality before dat. (mentioned the transfer fee and chq no)

6. Mention that the society has issued NOC
7. Mention that the completion certificate has been issued for the building by the authority; mention completion certificate number and date

--ur advocate will add the completion certi

8. Mention that as part of transferring the shares and enrolling to FLAT PURCHASER for membership , the society transfer charges has been fully paid, mention receipt number, cheque number and date
--same as pt 5

9. Mention that society maintenance bill has been paid up to Mar 2011; mention receipt number, cheque number and date
10. Mention that MSEB bill is paid till the sale deed; mention the receipt number
11. Mention that property tax for the year 2010-2011 has been paid; mention receipt number, cheque number and date
--I don't think so pt. 9,10,11 make sense to society. Why u will pay maintenance till Mar-11 in advance???
(you sud not agree to pt9...if you are not paying current month maintenance then they charge 24% interest but are they giving you any discount if you pay it in advance????
 
Old January 6 2011, 02:49 PM   #3
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Thank you for your prompt response but I was wondering if some of the points listed are standard practice and if somebody can share any sale deed format then it would be great and pickup the points from there directly.
 
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