Agreement To Sale Rera

By 8 Aprile 2021Senza categoria

To understand the conflict between RERA and Registration Act, it is important to understand the difference between the sale agreement and a deed of sale. Therefore, we can say that the provisions of the RERA Act 2016 apply as a priority to the Registration Act 2016 only with respect to the sale agreement. The developer is legally required to register the sale agreement under Section 13 of the Real Estate (Regulation development) Act 2016. If it does not do so, it will be punished with a penalty of up to 5% of the estimated cost of the real estate project set by the authority in accordance with section 61 of the law. However, if the advance paid at the time of execution of the sale contract is less than 10% of the cost of the dwelling, the developer is not required to register the sale agreement in accordance with the measure of the law.13 In accordance with Section 54 of the Transfer of Ownership Act of 1882, the transfer of ownership of physical real estate worth one hundred rupees or more can only be done by a registered instrument. This means that the registration of the sales certificate is mandatory. However, since there is no “transfer of ownership” through a sale agreement, it is not required to register it under the Transfer of Ownership Act of 1882. But in this case too, the buyer should encourage the developer to register the purchase agreement. The objective is to ensure that the proponents of the project, when acted on the basis of an unregistered sale agreement, are not in a position to charge the defence so that unregistered sales contracts cannot be relied upon for the purpose of obtaining evidence pursuant to Section 49 of the Registration Act 1908.

While this section deals only with the non-registration of documents requiring mandatory registration under Section 17 (1) of the same act, it can be argued that the purpose of registering an instrument is the mandatory possibility of imposing a penalty for non-registration, which in this case would be the one prescribed in section 49 of the act. In order to prevent pollsters from adopting this view and to prevent the application of the rights conferred by the unregord sales contract, the purchaser should register the purchase document. Applying the provisions of Section 88 of the RERA Act 2016, we can verify, in the analysis of the provisions of both provisions, that section 17, paragraph 2(v) of the Registration Act 1908 denies the RERA Act 2016. Therefore, under section 89 of the RERA Act 2016, the provisions of the Registration Act 1908 are not taken into account when registering the sales contract. . Explanatory Note: A document that claims or executes a contract to sell real property is not considered necessary or never required because it requires registration simply because that document contains a recital on the payment of a serious money or all or part of the purchase money. Ownership of all land should be clear and marketable, and it is said that it is done as such when executing the deed of sale. However, in practice, buyers make a sales contract as a precautionary measure, although they are aware that it does not create title to a property. A deed of sale is considered an authentic instrument and also establishes a clear title to the property, since it is a document subject to the obligation, pursuant to Section 17, paragraph 1, of the Registration Act 1908. However, section 13 of the RERA Act 20161 stipulates that a sales contract must be registered.

Although this is not the case with the Registration Act 1908.

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