LAW BOOK

HT Estates - - HTESTATES - Su­nil Tyagi

Over six months ago, I had taken up a prop­erty on lease for a term of five years. How­ever, due to cer­tain un­avoid­able con­tin­gen­cies, the lessor and I were un­able to get the lease deed reg­is­tered. Is it too late?

—Ak­shay Ya­dav As per the Reg­is­tra­tion Act, the lease deed is re­quired to be reg­is­tered within a pe­riod of four months from the date of its ex­e­cu­tion. How­ever, the con­cerned sub-regis­trar/regis­trar has the power to con­done the de­lay up to an­other four months sub­ject to pay­ment of fine.

I am the sole owner of a flat and want to in­clude my wife as a joint owner of the flat dur­ing my life­time. Can I re­lin­quish my own­er­ship in half the prop­erty in favour of my wife, as I do not want to take any con­sid­er­a­tion amount from her?

—Mo­hit Agar­wal Since you singly own the flat, you can­not re­lin­quish part of it. How­ever, if you wish to trans­fer own­er­ship of the prop­erty dur­ing your and her life­time with­out tak­ing any con­sid­er­a­tion amount from your wife, you may ex­e­cute a gift deed in favour of your wife for half, un­di­vided por­tion of the flat. The gift deed is re­quired to be duly stamped and reg­is­tered.

I booked an apart­ment in 2007 with a prom­i­nent builder in Gur­gaon. I have paid around 90% of the con­sid­er­a­tion. The apart­ment owners were promised pos­ses­sion by 2011 but till now the build­ings are not even com­plete. I along with cer­tain other al­lot­tees want our money back and wish to dis­con­tinue. What re­course do we have?

—KK Iyer Since the project has been much de­layed, you may chose to exit and seek re­fund with in­ter­est/com­pen­sa­tion from the de­vel­oper. How­ever, if the builder re­fuses to re­fund and com­pen­sate, you may ap­proach the ap­pro­pri­ate con­sumer fo­rum for re­dres­sal of your griev­ance.

SHUT­TER­STOCK SHUT­TER­STOCK

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