Owner Share Site

aadya
Posts: 8
Joined: December 4th, 2015, 12:27 pm

Owner Share Site

Postby aadya » August 13th, 2019, 7:35 pm

Hello,

What are risks, pros and cons in buying Owner share sites which is in a well developed layout pls? Will there be any issues if we buy?

Any details will help in making an important decision!

Thank you!

Sudarshan

rangamv
Posts: 34
Joined: March 12th, 2015, 5:44 pm

Re: Owner Share Site

Postby rangamv » August 14th, 2019, 6:28 pm

yes u can buy owner share sites, but owner and developer should have MOU/sharing agreement to share sites between themselves.Now i recently booked plot in layout near Uttrahalli road.

aadya
Posts: 8
Joined: December 4th, 2015, 12:27 pm

Re: Owner Share Site

Postby aadya » August 15th, 2019, 9:16 pm

Thank you Rangamv. They do have something called JDA - Joint Development Agreement. Lawyer is checking on it further.

Visualizer
Posts: 124
Joined: June 1st, 2018, 6:24 pm

Re: Owner Share Site

Postby Visualizer » August 16th, 2019, 10:04 am

Ensure that family tree of owners is attached and all branches of the family including daughters / their progeny and representatives of minors have signed the agreement and actual sale deeds or given POA to signatories.

This is a common problem as many times after few years claimants pop up. A friend recently he had to sell the site to pay up the new claimants and settle the case. Local tehsildar was supportive of the claims of people from family tree and taking case to court would have been long and cumbersome.


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