Q:Hi, I am buying a house from 3rd party. And the history is like that the builder sold the property to party-1 on the basis of nomination agreement. The 1st party has not done registration. Then the 1st party sold the flat to 2nd party with another nomination agreement, where the Builder is the confirming party. And the nomination agreement prepared by builder it self.Now I am buying the flat from the 2nd party but I am want to do it being registered in my name. Nomination is done in my name from 2nd party, where the builder again is conforming party. As the respective flat is not being registered by any prior parties, now while I am going for registration the builder advocate is telling there is a need of 1st party's presence or the Power Of Attorney from him. But the first party is not responding or replying though has communicated. Can this property will not be register ever or what is the other way out....please advice
Latest Answer: Thanks to all gentlemen....
I have done registration with builder directly, just by passing the 1st and 2nd owner but being mentioned their details in the deed. The loann amount paid diretcly to the seller directly as being mentioned in the deed from whom i am buying. So everything done smoothly.
Latest Answer: Tripartite agreement in real estate India means agreement signed by three parties - The Buyer, The Bank and The Builder. It usually contains the loan amount and property details.It lists out the obligations of all the 3 parties involved.
