Agreement For Transfer Of Flat Premises On Ownership Basis Deeds Agreement 997 - Legal Draft

MR. ................................... AND SMT .............................. both adults presently residing at ....................................... hereinafter referred to as TRANSFEREES (which expession shall unless it be repugnant to the context or contrary to the meaning, thereof, be deemed to mean and include their respective heirs, legal representatives, executive till the last survivor, administrators and permitted assigns)of the SECOND PART.

WHEREAS the transferors are the absolute owners and are in exclusive possession alongwith share capital of or otherwise well and sufficiently entitled to FLAT bearing No......... floor ............... having carpet area of ........... sq.Ft. or thereabout in building known as .......................... plot of land bearing survey No......... part of parcel ............... Division ............ New Survey No. ..................... & Municipal Street No ............. more particularly described in the schedule hereunder written.

AND WHEREAS by and under and Agreement for sale dated ................ the present transferors had purchased the said ....................... in the building known as .............. M/s ......................... thereto referred to as “the builders” of the one part & the transferors herein referred to as ”the purchasers “of the other part whereby the transferors herein had agreed to purchase on ownership basis the flat No.............. on the ................ of the building known as ................... constructed on Survey No ............ part of parcel ............ Division, plot ........... New Survey No ............... (part) ................ (part) & municipal street No. ......... & .................. in the area of Registrar /sub-Registrar of assurance of ................... hereinafter referred to as the said premises.

AND WHEREAS the transferors herein have agreed to assign their right, title and interest under the said Agreement for sale of flat with vendor and in respect of the flat premises and the Transferee on terms. conditions and obligations hereinafter mentioned.

1. This Transferors are sole and exclusive owner of the Flat bearing No................ of the ............. on the ..................with share capital having carpet area of .......... sq.Ft. or thereabout on the building known as ....................... constructed on Survey No.......... part of parcel ............ Division plot ............................ New survey No............ (part) ............. (Part) & Muncipal street No ............................ & .......................

2. The transferee herein has agreed to acquire from the Transferors and the Transferors have agreed to transfer the said Flat premises at lumpsum consideration of Rs............. (.........................only) being full and final settlement of or their claims for the Flat premises on ownership basis subject to term and conditions and obligations contained in the said Agreement for sale with the vendors Builders, promoter, which is inclusive of Elec/soc. deposit ect. paid by the transferor to the developer.

3. (a) It has been MUTUALLY AGREED upon by and between the parties hereto that the Transferee shall pay to the transferors the SALE consideration amount of Rs.............. (................) as full and final payment.

b. The premises mentioned herein shall always remain subject to provisions of MAHARASHTRA ONWERSHIP FLATS ACT.

c. That transferors shall handover the quiet, vacant and peaceful physical possession of the said flat premises to the transferee immediately on receipt of the said balance amount.

b. that no suit is pending in respect of the said FLAT premises or therein an attachment proceedings going on nor the said FLAT premises is subject to any Govt. Central/state legal body or public authority taxes dues rates and levies.

c. that the transferors herein confirm that the above given said agreement executed between the above given parties is legally valid, existing subsisting and is not cancelled terminated revoked and the transferors herein is in quiet vacant and peaceful physical possession of the said premises.

d. that they have not mortgaged, transferred assigned or any other way encumbered or alienated their rights title and interest confirm that the title of the said premises herein is clear, marketable and free from all types of encumbrances, and liabilities in said FLAT premises on or before the date of execution of this agreement for transfer

e. that they have right and absolute authority to enter into this agreement and that have not done or performed or caused or to be done or performed and act, deeds, matters or things whatsoever whereby they may be prevented from entering into this agreement of the said FLAT premises as purported to the done hereby or whereby the transferee hereby may be abstracted or prevented or hundred in enjoying the rights, to be conferred in favour of whereby the quite vacant and peaceful physical possession of the Transferee in the respect of the said FLAT premises may be disturbed and is the event of it being found that transferors are not entitled to enter into this agreement with right, sought or purported to be transferred hereby and the transfer herein is not able to enjoy the quite vacant and peaceful physical possession including the shares, subject to payment of full and final sale consideration of the said flat premises due to such reasons the transferors shall pay the compensation and or reimburse and they will indemnify the transferee if any objection claims or demand is made by any of their legal heirs for the loss, damages, suffer to sustain on this behalf including legal fees of the advocates /counsels incurred by them and the transferee can take action as per SPECIFIC RELIEF ACT.

f. that after the execution of this agreement the transferee is entitled to hold possess, occupy and enjoy the said FLAT premises without any interruption from the transferors herein.

7. Subject to the previous clause number ............ above and transferor doth hereby assign his right title and interest in the said FLAT premises to the transferee who is entitled to hold possess, occupy and enjoy the said flat premises without any interruption form them and the transferee have inspected the said premises which is in condition for occupation.

8. The Transferor do hereby CONVENANT AND CONFIRM with the transferee the we have paid sale consideration to transferor in full and final and their share of taxes Stamp duty outgoing upto the date of the agreement of in the said FLAT premises, that if any amount is due to developers or society for their share of taxes and outgoing or any other persons or persons or a authority for their share of taxes and outgoing or any amount relating to the said premises herein the same shall be paid by the transferor herein and if any amount is recovered form the transferee herein relation to the said premises by the developers or any other person having any type of interest or legal heirs or equitably claiming or in trust or by any Govt. authority for the taxes or as land revenue then the transferee herein duly INDEMNIFIED for the said payments and losses, damages suffered thereof.

9. The transferor do hereby covenant that they shall pay and discharge the rates and taxes society charges maintenance, water and electrical charges if any for the period upto and inclusive of date of full and final payment, and get the flat transferred in the name of transferee herein at their own expenses.

10. The transferee shall bear and pay the charges towards the stamp duty and registration fees as on this agreement per stamp duty act as may be in force and thereafter lodge, admit this agreement for registration with the concerned sub-registrar of Assurance ........ within the stipulated time limit and the transferor have agreed to attend and admit execution thereof, the transferor and transferee do hereby further confirm, covenant and declare that they have entered into this agreement after going through terms, conditions and contants and with full knowledge and have fully understood the same.