Drafts of Legal Documents

Agreement for Sale
Entered into between the Sellor and Buyer for transfer of the right / ownership of the property on an outright sale/purchase.

                                           Documents required for transfer of a flat
                                           Documents to be checked while buying a new flat

 

Lease / Tenancy Agreement
Agreement between the tenant and the landlord for the right ot use the property for a specified period of time.

Development Agreement
 Entered into between the owner of the vacate land and the builder/ developer 

Charitable Trust Deed
Used to setup a Trust to manage the properties of a family generally for a social objective like education, medical facility etc.

Private Trust
 Used to setup a Trust to manage the properties of a family profitably to meet some long term objectives like childern's marriage etc.

Family Settlement
 Used to establish  the right/ ownership of the divided property amoung the legal heirs of the decreased often reached out of Court.

Partition Deed (HUF)
 Used to establish  the right/ ownership of each portion of the property of an HUF after partition.

Gift Deed
 Used when one is gifting away property to a relative normally with an intention to save tax.

Indemnity Bond
 This is executed by the sellor of the flat so that the Cooperative Society to which the flat belongs and the purchaser  is completely indemnified against any claims that any other person may make on the rights of ownership of the flat or other any that is yet unpaid by the seller ( eg. taxes) 

Power of attorney
Used to hand over the legal powers to sign on legal documnets pertaining to the property to some one other than the owner. NRI's often give the power to act on their behalf to a relative or friend residing in India. Be sure that the person you give this Power of Attorney is completely trustworthy.

WILL
 A draft of a will prepared by the head of the family which will decide the nature in which his properties will be distrubuted among his heirs.
Intimating the Cooperative Housing Society about the sale of the property
 

Letter from the transferee (buyer) and the transferee ( seller) to the Society
Covering Letter from the transferor (seller) to the Society
Covering Letter from the transferee (buyer) to the Society

Form 20 A
Under the Bye-law No.40(a) , a Notice of intention of a member to transfer his shares and interest in the Property/ Flat of the Society must be given to the Secretary of the Society in this Form.

Form 20 B
Under the Bye-law No. 40(a), a letter of consent of the Proposed Transferee( Buyer) for the transfer of the shares and interest of the member (Transferor) to him (Transferee) must be made to the Secretary of the Society in this Form.

Form 21 i
Under bye-law No.40(b)(i)  an application for transfer of Shares and interest in the Property of the Society by the Proposed Transferor (Owner) in the name of the Buyer must be submitted to the Secretary of the Society in this Form.

Form 22
Under the Bye-law No. 40(d) (ii) an application for membership of the society by the Proposed Transferee (Buyer). In the Form, the expression " a member of a family" means and includes husband, wife, son having no
independent source of income, unmarried daughter and the person dependent on the applicant.

Form 25
Under the Bye-law No.19 (vii), 20 (iv) and 40 (d) (ix) a declaration for not holding immovable property in any Urban Agglomeration, specified under the Urban Land (Ceiling and Regulation) Act, 1976, exceeding 500 sq.meters is to be given by the Transferee (Buyer) while seeking direct admission to membership to the Society.

Form 5
Under the bye-law no.19 (vi) an undertaking is to be furnished by the prospective Member (Buyer) , saying that either he any of the members of his family owns the plot/flat/house/ which is for sale.

Form 3a
Under the bye-law No. 19(VI) an undertaking to be furnished by the prospective Member (Buyer) to use the flat for the purpose for which it is purchased.