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Registration of property in the name of buyer before the sale
22-Aug-2023 (In Property Law)
i am selling my flat i have taken token amount for the same but buyer is asking to register the property because he wants to apply home loan from a bank .As per him after geting home loan he wlll pay remianing amount?Should i regiter ? what should i do ? or is there any other way for the same.Please help me out
This is my response to you:
1. No only after receiving the full amount you should do the registration;
2. What if he does not honor the promise?
3. Give him the original documents to attain a home loan;
4. You must also sign an MOU that you gave him the original documents;
5. Save yourself from all legal liabilities.
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Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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Part Registration has to be done i.e. agreement for sale with condition specified about balance payment and that sale deed will be registered after receipt of full payment and possession thereafter. As without the agreement for sale bank will not disburse loan amount.
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Adv. Ibji Majid Anwar
Navi Mumbai | 25+ Answers
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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 Divorce Lawyers at lawrato.com to address the specific facts and details.
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