Whether a land owner can validly sign a sale deed, on the strength of registered development agreement, registered power of attorney, and unregistered agreement detailing sites in favor of developer?
Question asked by Mr. Raghvendra from Bangalore, India:
A developer in Sarjapur, Bangalore has entered an agreement to develop a land and is registered with sub-registrar. Land is developed and developer and land owner share 50, 50 shares of sites formed. Land owner has given a power of attorney to developer, to sell developers share of sites, & is dully registered. Subsequently a simple agreement is signed by land owner and developer, detailing site nos of owner and developer, and is unregistered one. I want to buy a site in the share of developer. Whether developer can validly sign a sale deed, on the strength of registered development agreement, registered power of attorney, and unregistered agreement detailing sites in favor of developer. Power of attorney states only that, developer will have sites of 50% and site nos not mentioned.
Thanks
Raghvendra
Vatsala Answers:
Yes, you can proceed with this transaction. The sharing agreement between the developer and the land owner need not be registered.
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