Draft Agreement For Sale of Flats

 Draft Agreement For Sale

AGREEMENT FOR SALE

THIS AGREEMENT FOR SALE is made and entered into at Mumbai, on this ____day of ________ , 2021, BETWEEN Mr./Mrs. _______________________________ an adult, Indian Inhabitant, presently having address at Flat No-___, ___ Floor, ___, wing, _______________________ Co-op. Hsg. Soc. Ltd, Plot No.________, Situated at _____________________ Nagar, __________________________________________. hereinafter referred to as the ‘TRANSFEROR’ (Which expression unless repugnant to the context or meaning thereof shall mean and include his heirs, executors, administrators and assigns) of the ONE PART and (1) Mr.___________________________ and (2) Mrs. _____________________________ both adults, Indian Inhabitants, presently residing at__________________________________________________ hereinafter referred to as the ‘TRANSFEREES’ (Which expression unless repugnant to the context or meaning thereof shall mean and include their heirs, executors, administrators and assigns) of the OTHER PART:

WHEREAS the Transferor is the member of ______________ __________ Co-operative Hsg. Soc. Ltd, a Society registered with Dy. Registrar of Co-operative Societies Act 1960, at Mumbai, under Registration No. _________________ of ______, dated ___________ (hereinafter referred to as ‘THE SAID SOCIETY’) and by virtue of being the member of the said Society, he has been holding the on what is popularly known as ‘Ownership Basis’ Flat No:-______, Floor, ______, Wing_____, in a Building known as ‘_____________________, Situated on Plot No. ___, Survey No. _____ & _____, C.T.S. No. ____ &

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______, ___________ Nagar, __________________________, more particularly described in the Schedule hereunder written (hereinafter referred to as ‘THE SAID FLAT’) on what is known as ‘Ownership Basis’.

AND WHEREAS originally the said building where the said Flat is situated was constructed by M/s. ____________ Enterprises from his own funds, a firm of Builders/Developers, who have it’s offices at Mumbai- ____________ and the said flat was allocated to Mr./Mrs.______________________________ vide Agreement dated _______________ and presently the Transferor hold the rights, title and interest in the said Flat.

AND WHEREAS the Transferor herein has since paid the full and entire consideration thereof to the concerned authorities and is presently holding the said flat admeasuring _______ Sq.ft. built up area on ownership basis.

AND WHEREAS the Transferor by virtue of being the member of the said Society viz. ______________________ Co-operative Hsg. Soc. Ltd., has been issued Share Certificate No. ___, Members Regn. No. ____ dated ______________, for five fully paid up shares of Rs. _____/- each bearing Distinctive Nos. _____ to _____ (both inclusive).

AND WHEREAS the Transferor has represented to the Transferees that they have been holding the abovesaid flat alongwith the five shares as stated hereinabove and being the member of the said Society, he is desirous of disposing off his right, title and interest in the said flat alongwith the five shares and the membership of the said Society and the Transferees herein have agreed to acquire all the right, title and interest of the Transferor in the said flat alongwith five shares, issued to

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him and the membership of the said Society on the following terms and conditions:

NOW THIS AGREEMENT WITNESSETH AS UNDER:

(1)  The Transferor hereby transfer and assign all his right, title and interest in the said flat being Flat No. __, ____ Floor, __, Wing of the said Society viz. ___________________ Co-operative Hsg. Soc. Ltd. and the Transferees herein have agreed to acquire all his right, title and interest in the said flat, five shares and the membership of the said Society.

(2)  The Transferor hereby transfers all his right, title and interest in the abovesaid flat alongwith the five shares and the membership of the said Society for the total consideration of Rs._____________/- (Rupees:- ___________________________________ only ) and the Transferees have agreed to acquire the same on the

payment of Rs. __________/-( Rupees:- _______________________Only ) being the total consideration inclusive of everything in lump-sum, which sum shall be paid by the Transferees to the Transferor on or before execution of this Agreement against the possession of the said flat. The Transferor doth hereby admit and acknowledge the-

-receipt of the said consideration hereunder and hereby acquit, release and discharge the Transferees from the payment of such consideration thereof.

(3) The Transferor doth hereby declare that the said flat is free from all encumbrances, claims and demands whatsoever and that they are fully entitled to deal with or dispose off the same and undertakes to keep the Transferees

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indemnified in this behalf. The Transferor also agree to sign and execute all such transfer forms, papers and documents as may be necessary in favour of the Transferees or their nominee/s and in quiet, vacant and peaceful possession of the said flat on receipt of the full and final consideration mentioned hereinabove.

(4)  The Transferor shall deliver to the Transferees the vacant and peaceful possession of the said flat alongwith the permanent fixtures and fittings on completion of the sale i.e. on receipt of the full and final consideration mentioned hereinabove

(5)  The Transferor will pay and clear off the charges payable to the Society by way of Municipal Taxes and other dues/outgoings relating to the said flat upto the date of handing over the possession to the Transferees as per the Society bills or any other dues in respect of the said flat and hereby agrees to keep the Transferees indemnified against any claim that may be made by the said Society or anyone else in respect of the said flat for the above period at a later date.

(6)  The Transferees hereby agree to pay all the charges payable by way of Municipal Taxes and other dues/outgoings relating to the said flat from the date of taking over the possession of the said flat and hereby declare and confirm that they will abide by the bye-laws of the said Society, without any reservation whatsoever.

(7)  The Transferor hereby declares and confirms that the said flat absolutely belongs to him and that he has not created any gift, pledge, lease, loan, mortgage, charge, lien or encumbrances on the said flat or the five shares and that these are free from any gift, lease, loan, mortgage, charge, lien, encumbrances or attachment of any Statutory

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Authorities or otherwise and there is no litigation, stay or any legal proceedings with regard to the said flat in any Court of Law, Taxing Authority or with Municipality or Society authorities. The Transferor further undertakes to indemnify the Transferees against any such claim laid by anyone at a later date.

(8)  The Transferor hereby releases, relinquishes, gives up and surrenders all his right, title and interest in the membership of the said Society, the Share Certificate and the said flat in favour of the Transferees forever.

(9)  The Transferor will hand over the Share Certificate, Original Agreement/s and/or all other related documents

entered into by him with the concerned authorities/Builders, to the Transferees for their record on receipt of the full and final consideration.

(10)  The Transferor will execute all the related papers required for the effective transfer of the said flat on receipt of the balance full and final consideration and hereby undertakes to co-operate in future with the Transferees and will execute all such further papers/documents/writings whatsoever for the effective transfer of the said flat alongwith the five shares.

(11)  The society transfer charges/donation fees will be paid by the Transferees and Transferor equally or as per the mutual understanding. However, the Stamp duty and Registration charges will be borne and payable by the Transferees.

(12)  Should there be any claim in respect of the said flat from any person or persons or any authority pertaining to any period prior to the transfer of the said flat in the names of the Transferees, the Transferor hereby agrees to indemnify

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the Transferees against such claims by settling such claims from their own funds only and taking all the legal responsibilities upon him.

(13)  The Transferor hereby undertakes and declares that in case any nomination, assignment, lien or charge in respect of the said flat and the said shares has been made and/or created by the Transferor and/or any one claiming through her prior to this day, in favour of any person or persons other than the said Transferees, the same shall after the execution of THESE PRESENTS, be deemed to be null and void, in-operative, cancelled and deemed to be withdrawn and not binding upon the said Society/Builders and/or the Transferees.

(14)  Subject to provision of Clause No. 2 above of this Agreement, the Transferor agrees to transfer said shares and his interest in the said flat to the Transferees and the Transferees are entitled to hold, possess, occupy and enjoy the said flat without any interruption from the Transferor hereby further declares that they have full right and absolute authority to enter into this Agreement and transfer the said flat and that he has not done or performed any act, deed, matter or things whatsoever whereby he may be prevented from entering into this Agreement as purported to be done hereby or whereby the Transferees may be obstructed, prevented or hindered in enjoying the rights to be conferred or transferred or assigned in their favour or whereby quiet and peaceful enjoyment possession of the Transferees in respect of the said flat may be disturbed and in the event of it being found that the Transferor was not entitled to enter into this Agreement and transfer his rights, sought or purported to be transferred hereby and the Transferees are not able to enjoy quiet and peaceful possession of the said flat due to any such reasons the Transferor shall within the limit of

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the consideration mentioned hereinabove and received be liable to compensate, indemnify and/or reimburse the Transferees all the loss or damage which the Transferees may suffer or sustain in this behalf.

(15)  The Transferor hereby undertakes to furnish any other documents, which may be required by the Transferees to make the title of the said flat complete and absolute without claiming any extra charges or compensation. The Transferor also agrees and undertakes to sign any other- -documents or forms for the payment of Stamp duty to be paid on this Agreement and also undertake to pay the Stamp Duty on all the earlier Agreement, if any.

(16)  This Agreement for Sale has been executed in Mumbai, the property is situated at Mumbai, and the payments are made in Mumbai, hence it is subject to jurisdiction of Mumbai Courts of Law.

THE SCHEDULE OF THE FLAT ABOVE REFERRED TO:

All that benefits of the Agreement dated ___________ referred to hereinabove the Transferor herein together with right, title and interest in the Flat No. ___, ____ Floor, __Wing of the building known as ‘___________________ alongwith five fully paid up shares of Rs. __/- each bearing distinctive Nos. ____ to ___ (both inclusive), under Share Certificate No. _____, Members Regn. No. __ dated _______________, issued by __________________ Co-operative Housing Society Ltd., situated at Building No. ____, Survey No. _____ & _____, C.S.T. No. _____ & ______ and bounded as follows:

On the North: On the South:

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On the East: On the West:

And further details of which as under:

Year of Construction : ______ and ______

Area of flat : _____ Sq. Ft. built up

No. of floor of building : Ground + ____ Floors

With lift.

Municipal / Ward No. : K ward, Andheri – West.

Address of Flat : Flat No. __, ___ Floor, __ Wing, ________________ Co-Op Hsg. Soc Ltd., Building No. __, _______ Nagar, __________ Road, _____________________,

Mumbai–

IN WITNESS WHEREOF the parties hereto have put and subscribed their respective hands and seals the day and year first hereinabove mentioned.

SIGNED AND DELIVERED by the ) Withinnamed – TRANSFEROR )

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Mr./Mrs. _____________________ ) In the presence of : ) 1.

2.

SIGNED AND DELIVERED by the ) Withinnamed – TRANSFEREES )

(1) Mr. /Mrs. ___________________________ ) And

(2) Mr./Mrs.____________________________ )

In the presence of :

1.

2.

)

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RECEIPT

RECEIVED of and from the withinnamed TRANSFEREES, (1) Mr._________________ and (2) Mrs. ____________________, a sum of Rs. ________/-(Rupees: – ________________ only) being the Full and Final payment / consideration of the sale and

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Sr. No. Cheque No. Dated

Drawn On Amount

WITNESSES: 1.

I Say Received,

(Mr. /Mrs_________________) (Transferor)

2.

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transfer of the Flat No. ____, ___ wing, on the ____floor, of the said society viz, _________________________Co-operative Hsg. Society Ltd., situated at Building No. ___, Survey No. _____ & _______, C.S.T. No. _____ & ______ at _________ Nagar, ___________ Road, _____________________________, Mumbai – __________, as under:

ACKNOWLEDGEMENT

We, the transferees namely (1) Mr. __________________ and (2) Mrs. ______________________, do hereby state that We have taken over the vacant, peaceful and exclusive possession of the Flat No. ___, ___ wing, on

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the ___ floor, of the said society viz, _________________ Co-operative Hsg. Society Ltd., situated at Building No. ___, Survey No. ____ & ____, C.S.T. No. _____ & _____ at _________________________ Nagar, ____________. Road, __________________________________________ Mumbai – ___________.

We say Confirm

(Mr. ________________________)

(Mrs. ________________________ )

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