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Signing registered sale deed - purchasing property

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Bengaluru/ Bangalore India

Signing registered sale deed - purchasing property
Nov 20, 2016 02:05 PM 5155 views

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When purchasing a property from a builder, be careful of one thing. In Karnataka, the registered sale deed is apparently required to include who has drafted the sale deed. Maybe the case with other states also. A builder will never sign on something drafted by the purchaser. The PURCHASER HAS TO sign on the document given by the builder's legal department.


Yet, the builders put the purchaser's name as the person who has drafted the sale deed. And they fool you into signing on that page because their employee at the registrar's office holds the page for you to sign, in such a way, that you cannot read on the top, what you are signing on at the bottom.


Be careful. If you sign on this, not only will you lose all your privileges as a weaker party under the law, you will also be accountable under the law for any land or other illegal acts the builder may have done with respect to your property, such as faking approvals, calculation of registration fee and stamp duty, calculation of property tax and the respective classifications, etc.


Once you sign on this, the only recourse that you have is to hope that whenever something goes wrong, is to be able to get all the registered sale deeds of your neighbors and show that all of them are identical. Even this may not get you through, because the builder can always take the position that they all got together and prepared a common draft for themselves. The best thing you can do after signing it, is to cancel the signature and get a counter signature from the builder's lawyer on the spot attesting your cancelled signature, but that is if he agrees to oblige you, which he will not!


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