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Issue with change in name of entity at builder
15-Jun-2023 (In Property Law)
Hindu religion - I am looking to purchase a 1 BHK ready to move in flat at (project has four block, i am purchasing in Block A, OC and CC available) There is a builder OWP having partnership with 2 other entities GC and HS. In Feb 2015, OWP exited the partnership due to which GO and HS changed the name of the partnership to GHCC. In the meantime, the khatha continues to be in the name of OWP. Now the sale sale agreement and sale deed is in the name of GHCC (formerly known as OWP). What are the implications? What should I do to ensure there are no future legal implications? since khatha name and sale deed and sale agreement is in different names? What is the right way to get this corrected? What should builder ideally supposed to do? If builder doesnt agree, how can i protect myself to ensure I am protected, if I decide to go ahead. Is there any clause which needs to be added in sale agreement and sale deed? regards, S
Hi,
In your case you need to get rectification deed made. A rectification deed is a supplementary document executed between the buyer and seller to rectify the mistakes made in the original/principal deed with respect to factual and typographical errors. This is also known as the confirmation deed or correction deed.
A rectification deed can be executed only when there is a factual error made in the original deed unintentionally and the original deed does not satisfy the requirements of both the parties involved. A rectification deed should be executed only if all the parties involved in the original deed agree with the addition, deletion or modification of any terms or information referred in the original deed.
In some cases, the concerned parties may not agree to the suggested change or rectification in the executed documents. In such instances, they may file a suit under Section 26 of Specific Relief Act 1963 before court. If there is a genuine factual error which resulted in incorrect reflection of the real intention of the party, the law provides relief to parties.
In your case you need to get rectification deed made. A rectification deed is a supplementary document executed between the buyer and seller to rectify the mistakes made in the original/principal deed with respect to factual and typographical errors. This is also known as the confirmation deed or correction deed.
A rectification deed can be executed only when there is a factual error made in the original deed unintentionally and the original deed does not satisfy the requirements of both the parties involved. A rectification deed should be executed only if all the parties involved in the original deed agree with the addition, deletion or modification of any terms or information referred in the original deed.
In some cases, the concerned parties may not agree to the suggested change or rectification in the executed documents. In such instances, they may file a suit under Section 26 of Specific Relief Act 1963 before court. If there is a genuine factual error which resulted in incorrect reflection of the real intention of the party, the law provides relief to parties.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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