An assignment agreement typically involves transferring rights from one party (the investor) to another (you). Here are some points to consider:
Assignment Agreement: When you sign the assignment agreement, the investor transfers their rights to you. Legally, the investor’s claim to the property diminishes once this agreement is executed.
Claim After Assignment: After the assignment, the investor generally won’t have any direct claim to the property. However, it’s essential to review the specific terms of the agreement. Some agreements may include conditions or rights that persist even after assignment.
Registration: While the investor doesn’t need to be present during registration, it’s advisable to involve them. The absence of a sale deed with the investor doesn’t necessarily negate their rights.
I am buying an investor unit in an under construction property. The property is approved by SBI. My query is regarding the Assignment agreement that will happen between me, builder and investor. After signing the assignment agreement, would Investor have any claim in the property? Does investor have to be there at the time of registration which will happen 3 years later? The builder says once investor signs assignment agreement he would be legally transferring property rights to me and since no sale deed is signed with investor he doesn't need to be there during registration.
Aditij005
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2024-06-18T11:48:56+00:00 2024-06-28T21:22:44+00:00Comment
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