Agreement of Sale

 

 

 

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AGREEMENT FOR SALE

THIS AGREEMENT FOR SALE is made and entered into at Mumbai,

on

this____day

of______________BETWEEN,

Mr./Mrs._______________________________ an adult, Indian Inhabitants,

presently

having

address

at

 ____________________________  _____________ ____________________________ ________________________ ___________  ____________________________  _____________ ____________________________ ________________________ ___________  ____________________________  _____________ ____________________________ ________________________ ___________ 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) Mrs. _______________and (2) Mr._________________________and also both adults, Indian

Inhabitants,

residing

at__________________________ 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:

 __________________Co-operative  ___________ _______Co-operative Hsg. Soc. Ltd., a Society registered under the provisions of Maharashtra Co-operative Societies Act 1960, at Mumbai, under Registration No.  ___________________________  _____________ _______________of _of ______ dated __________, (hereinafter referred to as ‘THE SAID SOCIETY’) and by virtue of being the member of the said Society, he is been holding allotted Share Certificate No. __, comprising of five fully paid up shares of

Rs. ___/- each bearing Distinctive Nos- ____ to

 ____ (both inclusive), holding the Flat No. __,______ Floor,  ______, of the ______________ _________________ ___ Co-operative Hsg. Soc.

 

 

 

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Ltd., Plot No.___, Survey No. ___, C.T.S. No. _ ____________, ___________, situated at _____________ ___________________________ ____________________________ ________________, __, more particularly described in the Schedule hereunder written (hereinafter referred to as ‘THE SAID FLAT’) on what is known as ‘Ownership Basis’.

AND WHEREAS the Transferor herein has paid the full and entire consideration for the said Flat and the said Shares 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 said Society v viz. iz. _____________ Co-op. Hsg. Soc. Ltd. has been issued Share Certificate No. ____ for five fully paid up shares of Rs. ___/- each bearing Distinctive Nos. ____ to ____ (both inclusive).

AND WHEREAS the Transferor has represented to the Transferees he has been holding the abovesaid flat along with the five shares as stated hereinabove and being the member of the said Society, he is desirous of disposing off hi hiss right, title and

interest in the said flat along with 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 along with five shares, issued to him and the membership of the said Society on the following terms and conditions:

 NOW THIS AGREEMENT WITNESSETH AS UNDER:UNDER:-

(1)

The Transferor hereby transfer and assign all his right, title and interest in the said flat being Flat No- __, _____Floor,

 

 

 

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 _____, the said Society ___________Co-op ___________Co-op.. Hsg. Soc. Ltd. Subject to provision of Clause No. 2 of this Agreement. 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 transfer all his right, title and interest in the abovesaid flat along with the five shares and the membership of the said Society for the total consideration of Rs. _____/-(Rupees:-________________ _____/-(Rupees:-________________)) and the Transferees have agreed to acquire the same on the  payment Rs._________/-(Rupees:-__ Rs._________/-(Rupees:-_______________ ________________) ___)  being the total consideration inclusive of everything in lump-sum, in the following manner.

a.  Earnest Money a

sum of

Rs. _________/- (Rupees:-

 __________________Only  ______________ ____Only ) Paid by Cash , Rs. _______/(Rupees:-__________________________ (Rupees:-___________ _________________Only) __Only) Cheque  No._______________  No.___________ ____ date ____________ ________________Drawn ____Drawn On  _________________________Ban  _____________ ____________Bank k Ltd,

 ___________________________  _____________ ____________________________ ____________________  ______   ____________________________  _____________ _____________________ ______ on or before the execution of this Agreement, the receipt whereof the Transferor acknowledges;

 b.  The balance sum of Rs. _______/-(Rupees- __________ only) will be paid by the transferees to the Transferor on or before ________________, simultaneous with the hand over of vacant and peaceful possession of the said flat to the Transferees by the Transferor.

 

 

 

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c.  The Transfer shall be conclusive and shall take effect only upon the Payment of the entire consideration as afore said. time is essence of the contract, and if the transferees fail to make the said balance p payments ayments of Rs. ______ _________/___/(Rupees:-_______________________Only) on or before  _______________. The agreement herein shall stand  _______________. terminated without any further act or deed and the transferor shall be free to deal with the same without any claim or action whatsoever of the transferees. The transferees here by irrevocably appoints the transferor for any act, deed, instrument, writing and to appear, represent  before any authority or power for cancellation of this agreement and waves the right to notice.

(3)

The Transferor doth hereby declare that the said flat is free from all encumbrances, claims and demands whatsoever and that he is fully entitled to deal with or dispose off the same and undertakes to keep the Transferees indemnified in this behalf. The Transferor also agrees 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 handover quiet, vacant and peaceful  possession of the said flat on receipt of the balance full and final consideration mentioned in Clause No-2 (b) hereinabove.

(4)

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

 

 

 

(5)

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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 agree 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 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 und undertakes ertakes to indemnify the Transferees against any such claim laid by anyone at a later date.

(8)

The Transferor subject to the payment of balance consideration hereby release, relinquish, give up and

 

 

 

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surrender all his rights, title and interests in the membership of the said Society, the Share Certificate and the said flat in favour of the Transferees forever.

(9)

The Transferor will handover the Share Certificate in original, original Agreement and/or all other related documents entered into by him with the Builders/ concerned authorities to the Transferees for their records on receipt of the balance full and final consideration Amount.

(10) The Transferor shall execute all the related papers required for the effective transfer of the said flat. On receipt of the  balance

full

and

final

consideration. Further

they

undertake to co-operate with the Transferees and will execute

all

such

further

papers/documents/writings

whatsoever for the effective transfer of the said flat along with the five shares.

(11) The Transferees and Transferor will pay tthe he society transfer charges/donation fees equally; 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 agree to indemnify the Transferees against such claims by settling such claims from their own funds only and taking all the legal responsibilities upon him.

 

 

 

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(13) The Transferor hereb hereby y undertakes and declare 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 him 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, deemed to be inoperative, null, and void, and not binding upon the said Society / Builders and/or the Transferees.

(14) Subject to provi provision sion of Clause No. 2 above of this Agreement, the Transferor agrees to transfer said shares and his interests in the said flat to the Transferees and the Transferees are entitled to hold, possess, occupy and enjoy the said flat without any let, hindrance, denial, demand, interruption or eviction by the Transferor or any other  persons lawfully or equitably claiming through under or in trust for the the Transferor. Transferor hereby further declare

that he has 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 they may be prevented from entering into this Agreement as purported to be done hereby or whereby the Transferees hereof 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. In the event, it is 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

 

 

 

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 possession of the said flat due to any such reasons, the Transferor shall within the limit of the consideration received mentioned hereinabove, shall 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 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 and Registration charges to be paid on this Agreement by Transferees.

(16) The Tran Transferor sferor hereby declares tthat hat o on n execu execution tion of this Agreement for Sale, he has simultaneously made an application in requisite Form No. 20(A) and 20(B), to the above said Society for the grant of its NOC as per the  prevailing rules and regulations, signed by both the parties hereto. The Transferor shall on or before ______________ obtain the NOC as per the format given by Housing Loan from the concerned authorities said society for the transfer of the said flat and the said five shares to the Transferees.

(17) On payment of tthe he ent entire ire consid consideration eration mentioned in the Clause No- (2) hereinabove, all monies lying in deposit with the said society shall stand transferred in the name of the transferees.

 

 

 

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(18) This Ag Agreement reement for Sale has been exe executed cuted 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:-

The Transferor herein agrees to transfer in favour of Transferees together with right, title and interest in the Flat No-__, ________ Floor, the building known as  _____________,, ‘along with five fully paid up shares of  _____________ Rs. _____/- each bearing distinctive Nos. _____to _____ (both inclusive), under Share Certificate No.__, issued by  __________________Co-op.  ______________ ____Co-op. Housing Society Ltd. , Plot  No.____, Survey No. ________, C.T.S. No. ___________, ___________, situated

at

_______________________________,

 ____________________________  ______________ ____________________________ ______________

And further details of which as under:

1.

Year of Construction:

______________________ ______________________

2.

Area of flat:

________ Sq.ft. (Built up Area) Equivalent to _______- Sq.Mtrs. built up area 

3.

No. Of floor of building: ______________ __________________ ____ Floor Without lift 

4.

Municipal / Ward No.:

_____________ __________________________. _____________.

 

 

 

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5.

Address of Flat :

Flat No. _, _____ Floor, __ Wing,  ____________ Co-operative Hsg. Soc. Ltd., Plot No. ___, situated at  ___________________________  _______________ ____________  ___________________________  _______________ ____________

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

)

Within named – TRANSFEROR

Mr./Mrs. ________________________

In the presence of

1.

) 

 

 

 

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2

SIGNED AND DELIVERED by the ) Within named – TRANSFEREES

(1) (Mr. /Mrs. _____________ __________________________) _____________) and

(2) (Mr. /Mrs. _____________________ ___________________________) ______)

In the presence of

)

1.

2.

RECEIPT

RECEIVED of and from the within named TRANSFEREES, (1) Mrs. __________________ and (2) Mr. ________________a sum of Rs. _______ /-(Rupees:-____________________ only) as Part Payment/ consideration of the sale and transfer of the Flat  No. ___,____

Floor, ________,

of the ___________C ___________Coo-

operative Hsg. Soc. Ltd., Plot  __________,

C.T.S.

No.

No._____, Survey No. _______,

situated

at

 _______________________,  _____________ __________, as u under: nder:

Sr.No. Cheque No.

Dated

Drawn On

Amount

 

 

 

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============ Rs. ___________/(Rupees: - _______________ _____________________________ ______________________Only) ________Only)

I Say Received,

(Mr./Mrs.__________________) Witnesses: -

1.

2.