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i am interested in buying a property from a builder in BTM. all documents are in place, as certified by lawyer. But one concern he raised is of structure of sale deed. The land owner and builder has created a partnership firm where owner has put in the land as his part of the capital to the partnership firm. There is a partnership deed executed in this manner.

In sale deed builder (a.k.a the partnership firm) is mentioned as "builder" in the sale deed and the land owner is mentioned as "confirming party" in the sale deed and myself as purchaser. it is also mentioned in sale deed that "confirming party" as agreed to give land as capital citing above mentioned deed and partnership firm has rights to sell. Though both names are mentioned in sale deed, my lawyer says that it will be good if land owner is mentioned as "vendor" and builder (aka partnership firm) as "confirming party" because land khata is in the name on the land owner and not in builder. I am not sure if builder is going to change the sale deed.

I would like to know if this is a problem and should i stay away from this kind of sale deed. will it cause problems in future. please let me know.

thanks,
ganesh

Hi
Think you the document executed by the owner and developer is agreement of sale ,not partnership deed .
After the completion of construcation , you insist sale deed from original owner along with builder.
R Muralidara ( Advocate )