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Can a person construct building on other's property under agreement
08-Jan-2023 (In Property Law)
My friend has a Commercial Plot in prime location of a city, but he dont have enough money to construct building on it. He's giving me a offer to construct building on his plot. As he's asking me to become a builder and then by a builders agreement he's asking me to become buildings 60% owner nd rest 40% building will be of my friend. My question is... Did it is safe for me to invest my money through builders agreement as i dont want to sell my building portion (60%) in future. Rather than i want to give my building portion on rent.
The development Agreement is best form of Agreement given your scenario, however it is relevant that development agreement is nicely prepared and should cover all the areas of future contingencies so that no problem comes in future.
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Adv. Rohit Kumar Singh
Delhi | 100+ Answers
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