THIS AGREEMENT entered into at _____ {city’s name} this _______ day of ………….., 1999 between,

___________________,Indian inhabitant, presently residing at ____________________________________________________ (hereinafter called the "Buyer" which expression shall unless the context otherwise requires mean and include her heirs, executors, administrators and assigns) and

____________________________, Indian inhabitant, presently residing at ____________________________________________________ (hereinafter called the "Seller" which expression shall unless the context otherwise requires mean and includes its successors and assigns).
 
 

WHEREAS:

1.The Seller is a Member of ____________ Co-operative Housing Society Ltd., (hereinafter called the said Society), a society registered under the Maharashtra Co-operative Societies Act (registration No._______ and having its office ___________ holding 5 fully paid shares bearing distinctive nos. from ___ to ___ (both inclusive) (hereinafter called the said Shares) issued under Certificate No. ____ and as such a Member the Licensor is entitled to the incidental right of use and occupation of Flat No.____, of a built up area of _______ sq.ft. or thereabout of carpet area on the ______ floor of the building known as _________ situated at___________________________.

2. The Seller herein has agreed to transfer and the buyer has agreed to acquire all right, title and interest of the seller in the said Flat and the said Shares with all legal consequences including the right of occupation of the said Flat in the said building of the said Society including his right, title and interest in the said Flat for a total consideration of Rs. ________/- (Rupees ______________________ only);

3.The Seller has obtained the consent / permission of the said Society vide letter dated ______ (a copy of which is hereto annexed and marked Exhibit "B") for granting his right, title and interest in the said Flat to the Buyer subject the fllowing agreement.

4. The Parties hereto have agreed to reduce into writing the Terms and Conditions on which the seller has agreed to transfer and the buyer has agreed to purchase and acquire the right, title and interest of the seller in the said Flat including the entire interest of the seller in the said Society;
 
 

NOW THIS DEED WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS:

1.The seller hereby agree to transfer unto the buyer and the buyer hereby agree to purchase and acquire all the right, title and interest of the seller in the said Society including the said Flat measuring about _____ Square Feet of (carpet up) area on the ____ floor of the building known as ____________________ belonging to the ___________________ Co-operative Housing Society Limited situated at _________________________, together with the Shares bearing distinctive Nos.________ to _______ (both inclusive) allotted under share certificate No.______ and all the right of the seller as to the use, occupation and enjoyment and ownership of the said Flat together with all rights, title and interest of the seller in the said Society for a total consideration of Rs.________/- (Rupees __________________ _______ only) to be paid by the buyer to the seller in the manner hereinafter mentioned.

2. The said consideration will be paid by the buyer to the seller as follows:

a) Rs. ________/- (Rupees_________________________ only) paid on or before execution of this agreement as Deposit (the payment and receipt whereof the seller doth hereby admit and acknowledge and acquit, release and discharge the buyer from the payment and receipt thereof );and

b) The Balance consideration of Rs. ________/- (Rupees ______________________ only) will be paid on or before ____________  and against the delivery of the vacant possession of the said Flat by the seller to the buyer.

3.It is agreed that in the event of any delay or default by the buyer in making payment of the balance consideration on the due date, the seller shall be entitled to give seven days notice in writing to the buyer and if the buyer fails to make payment within such notice period, then and in that event this Agreement shall be terminated and the seller shall be entitled to forfeit the earnest money of Rs.__________/- Rupees __________________________ only) paid by the buyer on the execution hereof.

4.It is agreed between the parties that if there is any delay or default on the part of the seller in performing his part of the contract then the buyer shall be entitled to specific performance of this Agreement together with right to claim costs, charges and expenses and losses from the seller.

5.The seller doth hereby declare and convenant with the buyer that the said Flat is free from all encumbrances of any nature whatsoever and that the seller has full right, title and interest in the said Flat and has full right and authority to assign and transfer his entire interest in the said Society including the said Flat and the said Shares to the buyer.

6.The seller hereby declares in full that :-

a)There is a clear title to the Flat and it (along with all fixtures listed separtely in Annexure -1) belongs to the seller absolutely and that no other person or persons have any right, title or interest whatsoever therein by way of sale, gift, exchange, inheritance, lease, lien or otherwise in the said flat.

b)Notwithstanding anything herein contained, any act, deed, matter or thing of whatsoever nature done by the seller or any personor persons lawfully or equitably claiming by from through or in trust for Him, the seller has himself full right, power and absolute authority to sell or transfer to the buyer the said Flat and his right, title and interest in the said Society and that the seller has not done or committed or omitted to do any act, deed, matter or thing whereby the ownership, possession and/or occupation of the said Flat by the seller may be rendered illegal and/or unauthorised for any reason or on any account.

c)The seller has paid all dues , charges, taxes and levies that are required to be made under law towards maintaining the right of ownership and enjoyment of the said flat.

d)That the seller has obtained the necessary No Objection Certificate from the said Society for transfer, sale of the interest of the seller in the said Society, as well as the right, title and interest of the seller in the said Flat as herein contained to the buyer and also to the admission of the buyer to the membership of the said Society in place and instead of the seller when the sale herein is completed by delivering the vacant and peaceful possession of the said flat to the buyer.

e)That on payment of the full purchase price herein mentioned, the buyer shall be entitled to the vacant and peaceful possession of the said Flat.

7.The buyer doth hereby covenant with the seller that he shall always abide by the Rules, Regulations and By-laws of the said Society and shall pay the municipal taxes and maintenance charges in respect of the said Flat from the day the seller delivers possession of the said Flat to the buyer. It is specifically agreed by and between the parties that till the said Flat is transferred in the name of the buyer, the buyer shall not be liable to pay any maintenance charges in respect of the said Flat to the said Society and the same shall be borne by the seller.

8.The seller has represented to the buyer that the total transfer fee / transfer premium / donation payable to the said Society for transfer of the said flat / said shares of the said society in the name of the buyer shall be borne and paid by both the parties in equal proportion.

9.It is agreed between the seller and the buyer that the expenses for stamp duty on these presents or on final sale deed / transfer deed and registration charges in respect of this transfer shall be borne and paid by the buyer alone and the seller shall not be liable to pay the same or any part thereof. However, the stamp duty or duties in respect of all previous transfers in respect of the said flat shall be the responsibility of the seller.

10.The seller doth hereby undertake to do and to execute all acts, deeds, matters and things as are or may be necessary, proper or expedient for the purpose of fully and effectually transferring the said Flat and the said Shares of the said Society to and in favour of the buyer in the record of the said Society to enable the buyer to have and to hold the said Flat and the said Shares absolutely.

11.That the seller declares that his Membership of the said Society is subsisting and has not been terminated.

12.The seller hereby undertake to hand over all the documents including share certificate, receipts, papers concerning the said Flat to the buyer against the receipt of the balance consideration of Rs. _________/- (Rupees ________________________ only).
 
 

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands the day and year first hereinabove written.

SIGNED AND DELIVERED by the

withinnamed Mr.__________________________)

in the presence of: _______________________)

1)

2)

SIGNED AND DELIVERED by )

the withinnamed Mr.________________________ )

in the presence of: ________________________)

1)

2)

Received with thanks from Mr.____________ a sum of Rs. ____________ (Rupees _______ only) as Security Deposit for the transfer of the flat vide Cheque No. ______________

dated_________ drawn on _______Bank Limited in favour of Mr.___________
 
 
 
 

 Seller
 

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