Agreement for Sale of Flat by the Original Purchaser to Another

Agreement for Sale of Flat by the Original Purchaser to Another

This agreement is made on this 10th day of July 2000 between Mr. AB of …………………………….. (hereinafter referred to as the vendor, which term shall include his successor, heirs, administrators, executors and assigns) of the One Part and Mr. XY of ………………………………… (hereinafter referred to as the purchaser, which term shall include his successors, heirs, administrators, executors and assigns) of the Other Part.

Whereas by an Agreement for sale between the vendor and MN Ltd. of ……………………………………… the vendor has agreed to purchase the flat No. ……… on the first floor in premises No. ……………………………………… and the said agreement has been duly registered.

And whereas the vendor has paid the consideration money and/or made arrangements for payment thereof to the said owner of the said building.

And whereas the vendor is no more interested in occupying the flat and is intending to sell his right, title and interest therein.

And whereas the purchaser has approached the vendor for purchasing the said flat No. ……… on the first floor at premises No. …………………… at a price of Rs. 6 lakhs plus interest at 20% per annum on the respective instalments paid by vendor to the said MN Ltd.

And whereas the vendor has agreed to sell his right, title and interest in the said flat No. ……… on the first floor of premises No. ………………… in the said multi-storeyed building to be constructed and/or under construction.

And whereas the purchaser has agreed to purchase the said flat No. ……… on the first floor of the said premises on the same terms and conditions on which the vendor agreed to purchase the said flat from MN Ltd.

And whereas the MN Ltd. has given its consent to transfer of the said agreement and the said flat by the vendor to the purchaser.

Now these presents witnesseth and the parties agree as follows:

1. The vendor agrees to assign to the purchaser and the purchaser agrees to take over all the rights and benefits of the vendor to acquire by purchase the said flat No. …… on the first floor in the multi-storeyed building under construction in premises No. ……………………… and particulars thereof contained in the agreement between the said MN Ltd. and the vendor, a copy whereof has been made available to the purchaser and the substance whereof are given in Schedule I hereunder.

2. In consideration of the vendor having agreed to assign his right title and interest in the said agreement with MN Ltd., the purchaser has agreed to pay a consolidated sum of Rs. 7,50,000 to the vendor  on the  execution of this agreement, the receipt whereof the vendor doth hereby admit.

3. The vendor hereby agrees, declares and covenants that all his rights, title, interest and benefits in the said agreement with the MN Ltd. belonging to him and available to the vendor will hereafter belong and be available to the purchaser as if the said agreement was entered into by and between said MN Ltd. and the purchaser herein in place of vendor and MN Ltd.

4. The vendor does not and will not claim any right, title or interest in the said agreement between vendor and MN Ltd. in the said flat No. ……… on the first floor of the multi-storeyed building under construction at  No. ………………… .

5. The purchaser has inspected all agreements, declarations, permissions, documents and has satisfied himself about the right, title and interest of the vendor and compliance of all statutory provisions by the vendor and the MN Ltd. in relation to the said flat.

6. The purchaser agrees and undertakes to take over and be bound by all terms and conditions of the said agreement between the vendor and MN Ltd. and be bound by all the obligations undertaken or agreed to by the vendor in the said agreement including the obligations to join and become a member of the proposed Association of Apartment-owners that will be formed by or on behalf of the purchaser in the said building and to sign all forms and papers in connection therewith.

7. The vendor and purchaser agree that each one of them would execute all necessary deeds and documents and do all such acts and things which would be necessary for effective possession and enjoyment of the said flat by purchaser and for protecting the right, title and interest of the purchaser  in the said flat.

In witness whereof the parties hereto do execute these presents on the day, month and year first above-written.

Schedule I

Schedule II

Signed   and   delivered   by  Mr.  AB
in the presence of:

1. ……………………                                                                  Signature

2. ……………………

Signed   and   delivered   by   Mr.  XY
in the presence of:

1. ……………………                                                                  Signature

2. ……………………

Signed, sealed and delivered by

Mr. ……………

pursuant of Board Resolution of

8th July 2000 of MN Ltd.as

confirming party in the presence of:                                                       Signature

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