Deed of Assignment’s format is given below.
DEED OF ASSIGNMENT
THIS DEED OF ASSIGNMENT FOR SALE OF FLAT IS MADE AND EXECUTED ON THIS ______ DAY OF ___ IN THE YEAR 20XX.
- Mr. ABC Age: ____ years, R/o: _________________
Hereinafter referred to as the “Vendor” (which expression shall unless it be repugnant or contrary to the context or meaning thereof be deemed to mean and include his heir, executors administrators and assigns etc.)
PARTY OF THE FIRST PART – VENDOR
- Mr. XYZ Age: ____ years, R/o: __________________
Hereinafter referred to as the “Purchaser” (which expression shall unless it be repugnant or contrary to the context or meaning thereof be deemed to mean and include their respective heirs, executors administrators and assigns etc.)
PARTY OF THE SECOND PART- PURCHASER
a) Whereas the flat is a part of land bearing of S.No. _________ admeasuring an area of _______ and S.No. ___________ admeasuring an area of _________ admeasuring totally of an area of __________ (hereinafter referred to as the said land) (more particularly described in Schedule I) which was originally owned by M/s ______________ and _________________.
b) AND WHEREAS the said land came to be purchased by Shri ________ and Ors. from ________ vide registered sale deed bearing No. ________ and ________ by _____ vide registered sale deed bearing No._______.
c) AND WHEREAS by way of a registered development agreement bearing registration. No. ______ dated _________ M/s. ___________, a registered partnership firm under Partnership Act, 1932 acquired the development rights of the said land from the owners of the said land and also executed an irrevocable Power of Attorney in its favour with respect to the said land bearing registration No. __________ being registered at the office of Sub-Registrar _______
d) AND WHEREAS the Promoters M/s. _____________ has thereupon applied for the construction of building on the said land and submitted the development plans to the Assistant Director Town Planning, _______ and the same received sanction on _________ bearing certificate No._____________ Sr. No.______ and ___________.
e) AND WHEREAS since the said land was lying beyond the municipal limits M/s _________ the promoters had applied for Non Agricultural Permission for the purpose of construction to the Collectorate Pune and received the same from the Collectorate, _______ vide Order No. __________ dated _________.
f) AND WHEREAS the Promoters commenced the construction in accordance with the sanctioned plans and the permission received from the Collector and Assistant Director Town Planning.
g) AND WHEREAS the Promoters completed the construction and got the necessary Occupation/ Completion Certificate dated ___________ bearing No.________________ a copy of which is annexed herewith and forms part and parcel of these presents.
h) AND WHEREAS the Vendor has vide and under a registered Agreement to sell dated __________ registered at the office of the Sub Registrar _________ bearing registration No._____ purchased and acquired from the Promoters i.e. M/s. ___________ all the right, title and interest in and upon all that piece and parcel of Flat bearing number _____ building ______, admeasuring ________ square feet i.e. ________ square meters carpet area, on the Stilt floor, in the Wing ____, in the project known as “_____________”, along with car parking space under stilt bearing parking No. _____, constructed on Land along with all rights, privileges (which flat is more particularly described in the schedule herein under written and is hereinafter referred to as “said flat”).
i) AND WHEREAS as per the said Agreement to sell the Vendor has paid the entire agreed consideration of the Subject Property to the Promoters who have handed over the vacant & peaceful possession of the Subject Property to the Vendor who is in the actual possession & occupation of the Subject Property having rights to assign or transfer the Subject Property to any intended Purchaser/s as he thinks fit & proper. The Vendor is thus absolutely seized and possessed of and otherwise well and sufficiently entitled inter-alia to all the Subject Property as owner thereof.
j) AND WHEREAS the Promoters have formed the ultimate body i.e. _____________Co-operative Housing Society Limited (herein after called as said “Society”) under the provisions of the Maharashtra Co-operative Societies Act 1960 under registration number _____________________.
k) AND WHEREAS the Vendor being the purchaser of the Subject Property is the lawful owner and is thus absolutely entitled to or otherwise seized and possessed of the Subject Property and that the Promoters have no claim against the Subject Property or the Vendor of whatsoever nature and when the Vendor at the time of purchase the Subject Property was satisfied that title to the Subject Property was clear and marketable and for cogent reasons, the Vendor decided to transfer all his rights, title and interest in the Subject Property, free from all encumbrances, charges, claims and demands, to any intending Purchasers for consideration.
l) AND WHEREAS the Vendor proposed, and Purchasers offered to purchase/acquire all the estate, right, title, interest, benefit and privilege of the Vendor in the Subject Property free from all encumbrances, for a consideration of INR. ____________/- (Indian National Rupees _____________________________) along with all the deposits with all authorities concerned in the Subject Property. The Vendor has agreed to convey, assign, sell and transfer all his rights, title and interest in the Subject Property, free from all encumbrances in favor of the Purchasers in receipt of the aforesaid price and consideration forever. The terms and conditions have been arrived at between the parties following due negotiations & consideration being true and correct market value of the Subject Property.
m) AND WHEREAS the purchaser has inspected all the documents relating to the title of the Vendor and Promoters and on perusal of those documents the Purchaser is satisfied regarding the clear and marketable title of the Vendor and the Promoters.
NOW THEREFORE THIS DEED WITNESSETH AS FOLLOWS AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER:
- All statements made heretofore in the recitals are deemed to have been incorporated in this the operative part of these presents.
- 2) That in consideration of INR. ______________/- (Indian National Rupees_______________ only), the Vendor has hereby assigned, transferred and conveyed the said flat together with right, title, interest, membership of the ultimate body so formed and occupancy rights and possession unto and in favour of the Purchaser absolutely and forever which consideration is paid by the Purchasers to the Vendor as under:
3) The Vendor states and confirm the receipt of the abovementioned total consideration of INR. ______________ as more particularly enumerated in the table above and release, acquit and discharge the Purchasers of the said amount. No separate receipt shall be required for the same. Now there are no outstanding from the Purchasers to the Vendor towards the Subject Property or any privileges attached to the Subject Property. The Purchasers state that the Purchasers have parted with the aforesaid amount and entered into these presents relying upon the representations of the Vendor made in these presents and believing the same to be true. The entire payment has been paid to the Vendor as per the instructions and for and on behalf of the Vendor herein. The Vendor state and confirm the receipt of the entire consideration and no separate receipt shall be required for the same. All amounts shall be paid subject to deduction of tax as per applicable rules.
4) The Vendor has handed over vacant and peaceful possession of the said Flat to the Purchaser on execution of this Deed of Assignment.
5) The Vendor further states that the Vendor has no objection if the Purchasers are admitted as the member of the Society in place of the Vendor and the same is inclusive of the aforesaid consideration.
6) The said Flat has been transferred in the condition as it is.
7) That upon execution of these presents, the Purchasers shall enter their names as holders of the said flat in record of the Municipal Corporation of the city of ________, tax assessment department, __________ the Society record and concerned Govt. / Semi Govt. Offices in place of the Vendor who shall tender his co-operation for the same.
8) The Vendor states and confirms that with the execution of these presents he has transferred all his right, title and interest in the Subject Property and every part thereof along with the right to deposits with all authorities concerned along with the furniture and fixtures in the Subject Property for the aforesaid consideration. The Vendor state and confirm that he has no right title and interest in the Subject Property and every part thereof.
9) The Purchaser has now become the absolute owner of the said flat and enjoy the right title and interest thereof along with all common areas and facilities as mentioned in the registered agreement to sale between the Vendor and the Promoters.
10) That the Vendor has paid the _________ bills, water charges, maintenance charges of the society till date of the execution of this Deed of Assignment and the Purchaser shall pay the same to the concerned authorities from the date of execution of this Deed of Assignment.
11) The Vendor covenants and assures the Purchaser that:
a) The Vendor alone is entitled to the said flat and every part thereof and that his title to the same is clear and marketable.
b) The said flat nor any part thereof is subject matter of any past or pending litigation.
c) The Vendor has paid all taxes, dues, cesses, and charges to the said Society, the ______ bills till the date of execution of these presents and in the event the same are found to be outstanding the Vendor shall bear and pay the same.
d) The Subject Property was legally acquired and all legal formalities were duly complied with.
e) The Vendor has not received any notice in respect of the said flat or any part thereof.
f) The Vendor has not done any act, thing, deed that may prejudicially affect the title of the Vendor nor has he carried out any structural changes in the Subject Property.
12) After execution of this Deed, the Purchasers shall step into the shoes of the Vendor and the Purchasers shall be free to deal with the Subject Property and every part thereof.
13) The Vendor states and confirms that he has handed over all the title documents (originals and photocopies) or copies thereof of the Subject Property to the Purchasers.
14) The Purchasers shall pay the taxes, ________ bills and society maintenance charges for the Subject Property for the date of execution of this Deed of Assignment. The Purchasers shall be entitled to get their name mutated in the necessary records as applicable.
15) For the abovementioned purposes and in order for the Purchasers to derive the fullest benefits and in order to fulfill all the formalities required to be done under any law for the time being in force the Vendor duly constitute and appoint the Purchasers as their lawful attorneys with regard to the Subject Property only and no beyond.
16) That the vendor has transferred his ownership, right, title and interest of the said flat in favor of the Purchaser.
17) All expenses such Advocate’s fees, stamp duty, registration charges, society transfer fees and such other expenses for the execution of this Deed of Assignment shall be borne by the Purchasers.
All that piece and parcel of land bearing S.No. ________ admeasuring a total area of ________ situated at ____________, District _________, and within the limits of Sub Registrar ________ and within the revenue limits of Zilla ________ District ______ and within the local limits of Graham Panchayat ___________ being bounded as follows:
ON OR TOWARDS EAST: By land bearing S.No. ________ and remaining land of S.No. ______
ON OR TOWARDS SOUTH: By land bearing S.No. ________ and road
ON OR TOWARDS WEST: By land bearing S.No. __________
ON OR TOWARDS NORTH: By ______ and thereafter land bearing S.No. ______
All that piece and parcel of land bearing S.No. ________ admeasuring a total area of _________ situated at Village ______________ District _________, and within the limits of Sub Registrar __________ and within the revenue limits of Zilla Parishad, ______________ and within the local limits of Graham Panchayat_____________ being bounded as follows:
ON OR TOWARDS EAST: By land bearing S.No.____
ON OR TOWARDS SOUTH: By road
ON OR TOWARDS WEST: By land bearing S.No.______ (Part)
ON OR TOWARDS NORTH: By land bearing S.No. _______
All the piece and parcel of the said flat i.e. Flat Bearing No. _______ Building ______, admeasuring carpet area of ________sq ft. i.e., _______sq. Mtrs. situated at Stilt floor of building __ consisting of 2 bedrooms, 1hall, 1 kitchen etc. and being bound as follows:
ON OR TOWARDS EAST: Staircase and Duct
ON OR TOWARDS SOUTH: Flat No. ______
ON OR TOWARDS WEST: Common Area of Sanctioned Layout
ON OR TOWARDS NORTH: Common Area of Sanctioned Layout.
In witness whereof the parties hereto have hereunto set and subscribed their respective hands on the day and year first hereinbefore written.
SIGNED, SEALED AND
DELIVERED BY THE WITHIN NAMED VENDOR
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SIGNED, SEALED AND
DELIVERED BY THE WITHIN NAMED PURCHASER
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In the presence of: