I have bought a house in Hyderabad, AP, India and got the allotment letter for it 3 years back. I have not yet signed the Agreement of Sale. Now i intend to sell it to a 3rd party and the builder is denying the transfer. And in case i get into a agreement with the 3rd party, can he avail of the housing loan. Pls guide.
4 Answers from Attorneys
it is difficult. You can only sell what you own. Better to get your rights transferred to the third party with the consent of the builder.
Dear Sir / Madam,
Just having the allotment letter does not imply ownership. You will have to register the title of the house in your name first, and only then sell it to another person. I do not envisage that the person will get a housing loan without the registration of the title in your name.
your title to the property is not clear as the same is not registered.
Thanks and Regards
Contact me at firstname.lastname@example.org