Agreement For Sale Of Flat By A Flat Purchaser, When Co Operative Society Has Not Been Formed And Flat Is Not Ready - Legal Draft

This Agreement made

at .................... this ........... day of ..............., 2000, between

A, son of ....................... resident of ...........................

hereinafter referred to as the 'Transferor" of the FIRST PART, B, son of

................. resident of ........................... hereinafter referred

to as the "Transferee" of the SECOND PART and M/s ABC Constructions,

a partnership firm, having its office at .......................... hereinafter

referred to as the Confirming Party of the THIRD PART.Whereas by an

Agreement dated ................... made between M/s. ABC Constructions,

therein referred to as the Builders and, hereinafter referred to as the

Confirming Party of the ONE PART and the Transferor therein referred to as the

flat Purchaser of the OTHER PART, the Confirming Party has agreed to sell and

the transferor has agreed to purchase one flat bearing No. ............... on

the ................ floor in the building, being constructed by the Confirming

Party on the piece of land bearing Plot No. ............... situated

at.......................................................... and more

particularly described in the Schedule 1 to the said agreement being the same

as described in the Schedule 11 hereunder written;And Whereas the

agreement between the Confirming Party and the transferor, hereinafter referred

to the said agreement, has been duly registered under the Registration Act,

1908 as required under the .............. Ownership Flats Act, .And Whereas the

transferor has agreed to assign his rights and benefits under the said

agreement to the transferee and the transferee has agreed to purchase the same

on the terms and conditions hereinafter contained;And Whereas the

confirming party has informed transferor that the flat will be ready by

.................... and he has no objection in the transfer of the said

agreement by the transferor and the transferee and has agreed to join as the

Confirming Party to these presents.Now This Agreement

Witnesseth And It Is Hereby Agreed Between The Parties Hereto As Follows:1.

In

pursuance of the said agreement and in consideration of the sum of Rs.

............... paid at the time of these presents (the receipt whereof the

said transferor does hereby acknowledge and admit), the transferor assigns to

the transferee all his rights, benefits and interest to purchase the flat No

........................ on the ............... floor in the building under

construction on the piece of land described in Schedule 1 hereunder written,

under the said Agreement between the Confirming Party and the transferor.2.

The

transferor hereby declares that the said agreement is valid and subsisting and

he has not assigned the benefit of the said agreement to any person.3.

The

transferee will be entitled to all the rights, benefits and interest belonging

to and available to the transferor under the said agreement.4.

The

Confirming Party hereby agrees and declares that he shall hand over the

possession of the fiat to the transferee, as soon as it is ready and the

transferor will be entitled to the amounts deposited by the transferor with the

Confirming Party under the said Agreement and the transferee shall be given the

shares in the Co-operative Society of the flat owners in respect of the flat,

as and when the Society is registered.5.

The

transferor declares that he will have no interest, right and benefits in the

said agreement and in the flat to be acquired by virtue of the said agreement.6.

The

transferee has satisfied himself about the rights of the Confirming Party about

the sale of the flat to the transferor and the building plans and he shall not

be entitled to raise any objection about the right of the Confirming Party or

the building plans in future.7.

The

transferee agrees and undertakes to be bound by the liabilities and obligations

of the transferor under the said agreement.IN WITNESS WHEREOF

the parties hereto have put their respective hands the day and year hereinabove

written.The First Schedule

above referred toThe Second Schedule

above referred toSigned and delivered

by the within named transferor ASigned and delivered

by the within named transferee BSigned and delivered

by the within named Confirming PartyM/s. ABC

Constructions through its partners(1) ; (2) ; (3) ;.WITNESSES;1.2.