Questions Asked

Purchase & Sales #entered #property #buying #agreement #sell

I have entered into a property buying agreement. I want to know if the seller can sell it to some other buyer if I can't make the payment on time?

Answered on November 08, 2017

This depends on the conditions in the agreeement. If the payment is not made in time, and there is a termination clause which states that agreement can be terminated due to delayed payment, seller can return your payment and sell it to some other buyer. However, it is very subjective and shall largely depend on the conditions in the agreement

Bank Finance #mortgage #money #paid

If funds are given under a reverse mortgage, how does the lending institution recover the money paid?

Answered on November 08, 2017

Once you vacate the premises permanently, or in the event of your death, the lending institution will give the first option to the legal heirs of the property to settle the loan. If they are unable to settle the loan, the lending institution will sell the property and, from its proceeds take its share-principal, i.e., the total amount disbursed as loan and the interest on it-and give the balanc...

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RERA #registration #maharera #revoked #buyer #maharera

If the registration of a real estate project is revoked for any reason, how will the interest of the buyer, in such project, be protected by MahaRERA?

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Answered on November 08, 2017

( Source : maharera.mahaonline.gov.in) MahaRERA will take action in accordance with section 8 of the Act.

Legal #property #ownership #sell

We own a combined property, ownership of which is shared between my two daughters (one married, both adults) and six children of my sister (all except one are adults). The exact share of each person is not defined. We want to sell our share but my sister's children don't want to sell their parts. What can I do in this situation?

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Legal #huf

How can a married daughter demand partition in HUF?

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Answered on November 08, 2017

A married daugther can seek partition of the HUF as the distinction for rights granted to married daughters has since been abolished from the year 2006.

Legal #attorney #flat #ownership

If I give power of attorney of my flat to somebody then if I die will the ownership of my flat go to my wife or to the person who has the power of attorney of my flat?

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Answered on November 08, 2017

A power of attorney executed without consideration becomes redundant on the death of grantor and the flat would belong to the legal heirs of the party in the event of his/her having died intestate.

Legal #construction #co-owner #property #procedure

I have a house which is under construction at this moment and I want to make my friend partner or co-owner of the property. Is it possible to do so? If yes, what is the procedure?

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Answered on November 08, 2017

If the property is under construction then depending on the terms of the Agreement between you and the developer, you may execute a Sale Deed for such proportionate of your undivided interest in the house unto and in favour of your friend.

Legal #rented #flat #builder #prices #clubhouse

I have rented out my flat in Brigade Metropolis,Whitefield,Bangalore. The club house there is owned by the builder. The prices of this clubhouse are quite high and it is mandatory to pay these charges. The RWA has also agreed to the clubhouse by laws. The tenant in my flat doesn't use the clubhouse either. I don't wish to bare this extra cost. What do I do about this?

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Answered on November 08, 2017

The fees and charges in connection with the club house would depend on the terms of the Agreement executed by you with the Developer when you purchased the flat. If, the Agreement provides that payment of charges towards the club house are compulsory and if you have agreed to the same then you would be required to pay such charges irrespective of whether you used the clubhouse facility or not.

Legal #property #builder #loan #sell #flat

Is there a way to stop my mother to take decisions about her property, legally? I am saying this because she has messed up situations in the past. She joint ventured our house with a builder on terms of 50% each, after which she took out a loan on one of our flats and then wasn't able to pay it back so had to sell off the flat. She is trying to do the same with the remaining flat.

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Answered on November 08, 2017

If the property belonging to your mother is herself acquired property then you cannot restrain her from dealing with such property. however, if the property has been acquired from the funds of your father and/or from joint family funds then in that case your father and/or you and the other members of the family can seek injunction against your mother by filing a civil suit in that regard.

Legal #poa #flat

I have the POA of my brother's flat and we live in a joint family. Can I be a member with this apartment with this POA? Will I possess the right to vote in the apartment decisions? Also, can I be an active member of the apartment committee?

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Answered on November 08, 2017

No, POA does not permit you to be a member of the society and neither can you act as a committee on the basis of such POA.

Legal #property

What happens about the property if the father dies without a will and if he has already disowned his son.

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Answered on November 08, 2017

The other heirs can claim the property to the exclusion of the disowned son, however if the son who has been disowned seeks his share in the property, then the issue will have to be decided in a civil suit only between all the heirs claiming rights in the property of the father.

Legal #owners #single #ownership #exchange #process

I have 2 flats, both with different owners. One is a single ownership and the other one is a joint ownership. We want to exchange the ownership, is it possible? What is the process?

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Answered on November 08, 2017

You can exchange the ownership to the Flats by executing an Exchange Deed and all parties holding the two properties would have to be agreeable to such exchange. If the properties are of equal value, then no other consideration would have to be paid in connection for such exchange, however if one property is valuable than the other, then the exchange deed should record that additional considera...

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