Purchase plot possession under GPA
I want to purchase a plot of 3000 sq ft which was registered under GPA in 2008. The GPA holder has sold an undivided share of 500 sq ft in 2012 to his nephew. My question is 1) Whether the GPA holder(2500 sq ft) and his nephew(500 sq ft) have power to jointly execute sale deed in favor of the buyer? 2) In whose name, should the sale consideration amount be drawn in favor of, GPA holder or Original owner(Principal)? 3) Whose PAN Number from the seller's side should be given in the sale deed? 4)From whose PAN Number, should the 1% TDS be remitted?
Sale consideration be drawn in favour of GPA Holder in respect of 1620 sq ft and sale consideration in respect of 405 sq ft is concerned,in the name of nephew. Respective owners' name,i.e.original owner of 1620 sq ft and 405 sq ft(nephew). Buyer's PAN in case transaction amount would be Rs.50 lac and above.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- Can college keep the certificates of facility
- Refund if no progress by builder till 3 years after taking booking
- What to do if wife refuses to give statement in 1st motion of divorce?
- What options do i have if company doesn't provide my relieving letter?
- Property bought in name of mother and son but son died how to transfer