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Anonymous
in Corporate Law
Asked March 24, 2018

Joint development agreement and Share Purchase Agreement

  • 2 Answers
  • 223 Views

Hi, I'm planning to buy a Flat in a project completed 2 years ago from land owners share. The project is a joint development between the builder and the landowners and they have registered the Joint Development Agreement(JDA). There are three land owners Mother and her two sons. After the project got completed, land owners got a share of 50 Flats in equal ownership for all three. Now only Mother have given SPA to their Manager (Her sons didn't sign the SPA as they were out of town). Can i go ahead with Agreement of Sale mentioning that by the time of Registration other two owners (her sons) should give SPA to their manager and then only registration can happen?

Answers 2

Sir,

You can go ahead with Agreement to Sale  or MOU registered with covent that other two owners either give POA or present in person at the time of registration of Sale Deed.

Agree Comment 0 Agrees 5 months ago
Consult Now

In above situation without SPA of all the owners you shouldn't go for registration. 

Agree Comment 0 Agrees 4 months ago
Consult Now

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