Agreement for Transfer of Tenancy whereby Incoming Tenant is Paying the Consideration to the Transferor to Acquire the Alternate Accommodation on Ownership basis for the Outgoing Tenant
DEED OF TRANSFER
THIS DEED OF TRANSFER made at ________ on this _________ day of ___________ 200___, BETWEEN P Q R, of ___________, Indian Inhabitant, residing at _________________________________ ____________ hereinafter referred to as “THE TRANSFEROR” (which expression shall, unless repugnant to the meaning or context thereof, be deemed to include his heirs, executors and administrators) OF THE FIRST PART; ABC, of _____________, Indian Inhabitant, residing at _____________ ______________ hereinafter referred to as “THE OUTGOING TENANT” (which expression shall, unless it be repugnant to the context or meaning thereof mean and include his heirs, executors and administrators) OF THE SECOND PART; M/S. MNO, a registered partnership firm having address at ________________________ _________________________, hereinafter referred to as “THE LANDLORDS” (which expression shall, unless it be repugnant to the context or meaning thereof, mean and include the partners or partner for the time being of the said firm, the survivors or survivor of them and the heirs, executors and administrators of the last surviving partner and their/his/her assigns) OF THE THIRD PART; AND XYZ, of ___________, Indian Inhabitant, residing at________________________ ______________________________, hereinafter referred to as “THE INCOMING TENANT” (which expression shall unless it be repugnant to the context or meaning thereof mean and include his heirs, executors and administrators); OF THE FOURTH PART.
WHEREAS:—
(a) The Landlords are the owners of the building known as “________________” situate at ________________ and which is more particularly described in the First Schedule hereunder written. The Landlords are also the owners of residential flat no. __________ on the ________ floor of the said building “___________” admeasuring 600 sq.ft. of carpet area (hereinafter referred to as “the said flat”) and which is more particularly described in the second schedule hereunder written;
(b) The Outgoing Tenant is the lawful tenant in respect of the said flat and his tenancy rights to the same are valid and subsisting. The rent receipt in respect of the said flat stands in the name of the Outgoing Tenant.
(c) The Outgoing Tenant has agreed to transfer his tenancy rights in respect of the said flat in favour of the Incoming Tenant, upon the Landlords consenting to the said transaction in favour of the Incoming Tenant.
(d) The Transferor is seized and possessed of or otherwise well and sufficiently entitled to flat bearing no. 1 admeasuring 650 sq. ft. of carpet area on the 6th floor of the building known as “BBC APARTMENT” belonging to BBC Co-operative Housing Society Ltd. at ________________________ ________ (hereinafter referred to as “the said Ownership Flat”).
(e) The Transferor is also the registered member and shareholder of “BBC Co-operative Housing Society Limited” registered under the Maharashtra Co-operative Society Act, under registration no. _________________________________ (hereinafter referred to as “the said Society”) and as such, is the registered holder of 5 (five) shares of the face value of
Rs. 50/- (rupees fifty only) each, of the aggregate value of
Rs. 250/- (Rupees Two hundred fifty only) bearing distinctive nos. 301 to 305 (both inclusive) issued by the said Society (hereinafter referred to as “the said Shares”) and bearing Certificate No. 10 in respect of the ownership of the said Flat. The said Ownership Flat and the said shares are more particularly described in the Third Schedule hereunder written and are hereinafter collectively referred to as “the said premises”.
(f) The Outgoing Tenant has with the consent of the Landlords agreed to transfer the said monthly tenancy of the said Flat and to relinquish all his right, title and interest thereto in favour of the Incoming Tenant and hand over vacant and peaceful possession of the same to the Incoming Tenant. In turn, the Landlords have agreed to confirm and accept the said transfer of tenancy rights in favour of the Incoming Tenant of the said flat. In consideration thereof, the Incoming Tenant has agreed to directly negotiate and purchase for the Outgoing Tenant a suitable permanent alternate accommodation on ownership basis at his cost and expense, to enable the Outgoing Tenant to move out of the said flat and hand over vacant and peaceful possession thereof to the Incoming Tenant and thereafter to enter into and occupy the permanent alternate accommodation.
(g) The Incoming Tenant and the Outgoing Tenant have mutually selected and agreed upon the said ownership Flat as an acceptable alternative accommodation for the Outgoing Tenant to be provided to him by the Incoming Tenant at his own cost, charge and expense for relinquishing the tenancy rights of the said flat in exchange for the Incoming Tenant providing the consideration and all other cost, charges and expenses for the purchase of the said ownership flat from the Transferor for the exclusive benefit and ownership of the Outgoing Tenant.
(h) The Transferor has agreed to sell and the Outgoing Tenant has agreed to buy the said premises as more particularly described in the Third Schedule hereunder written at the cost, charges and expense of the Incoming Tenant on the terms and conditions hereinafter stated. The said society has already issued its No Objection Certificate for transfer of the said Premises in favour of the Outgoing Tenant.
(i) In pursuance of the aforesaid, the parties hereto are executing this Deed of Transfer to complete the transaction.
NOW THIS DEED WITNESSETH and it is hereby agreed, confirmed and recorded by and between the parties hereto as follows:—
1. The Transferor hereby sells, transfers, conveys and assigns to the Outgoing Tenant and the Outgoing Tenant hereby acquires the said premises as more particularly described in the third Schedule hereunder written for the sole and exclusive benefit of the Outgoing Tenant from the Transferor with all his right, title, interest and claims therein at
or for the total price of Rs.______________/- (Rupees ____________________only) and on the terms and conditions recorded herein. The aforesaid consideration is provided and paid by the Incoming Tenant and the Outgoing Tenant has not been required to pay the said consideration. The price of the said premises paid by the Incoming Tenant is deemed to have been paid in adjustment against the value of the tenancy rights of the Outgoing Tenant in the said Flat. The Transferor doth hereby declare that the said premises are free from all encumbrances and reasonable doubts.
2. On or before the execution hereof, the Incoming Tenant has paid the entire consideration amount of Rs. _________/- (Rupees _______________________only) to the Transferor in full & final consideration (the payment and receipt whereof the Transferor doth hereby admit, confirm and acknowledge) and the parties hereto have completed the transaction.
3. The Transferor has on execution hereof has handed over quiet, vacant and peaceful possession of the said Ownership Flat to the Outgoing Tenant along with all the original documents thereof as owner thereof.
4. The Transferor has executed all the necessary documents, forms, undertakings, declarations, etc. for effectively transferring the said premises in favour of the Outgoing Tenant. The Transferor shall hereinafter at the request of the Outgoing Tenant execute or cause to be done or executed all further acts, deeds or things more perfectly to complete the formalities to transfer and assure the said premises unto the Outgoing Tenant as shall or may be reasonably required by him.
5. The Transferor declares and has represented, covenanted and assured to the Outgoing Tenant as also to the Incoming Tenant:—
(a) That the Transferor has duly paid and discharged in full all the dues and liabilities in respect of the said premises including the Municipal outgoings, taxes, rates, maintenance charges etc. payable to the said society upto the date hereof;
(b) That the Transferor is the sole and absolute owner and beneficiary of the said premises duly standing in the name of the Transferor in the books and all other records of the said society and is absolutely entitled to the same and to all incidental rights thereto and to the exclusive right to the use, enjoyment and occupation of the said Ownership Flat and except the Transferor no other person or persons have any right, title, interest, claim or demand of any nature whatsoever upon the said premises;
(c) That notwithstanding any act, deed, matter or thing whatsoever done, omitted by the Transferor or any person or persons lawfully or equitably claiming by, from, through, or in trust for the transferor, the Transferor has full power and absolute authority in his own right to transfer the said premises and to relinquish and transfer all his rights, title and interest therein in accordance with the present instrument;
(d) That neither the Transferor nor any one on his behalf has committed or omitted any act, deed, matter or thing whereby his holding of the said shares and incidental rights thereto including the right to peaceful use, occupation, ownership and enjoyment of the said ownership flat and other rights and benefits in respect thereof may become or may be prejudicially affected or encumbered in any manner or whereby the said shares and his other right, title and interest therein may become liable to attachment and/or sale whether by a decree or order of the Competent Court or otherwise;
(e) That the Transferor has not created or purported to create any tenancy, license, charge, lease, mortgage, lien or any kind of third party has rights over the said premises and no other person or party has any right, title or interest, claim or demand in to or upon the same either by way of mortgage, gift, trust, inheritance, lease or otherwise and that the same are free from all encumbrances and there is no pending litigation of any kind whatsoever.
(f) That the Transferee shall on completion of the transfer peaceably and quietly be entitled to hold and own the said flat and the said shares and all incidental rights thereto including the right to enter upon and remain in sole occupation and enjoyment of the said ownership flat and/or any part thereof in the Outgoing Tenant’s own right without any interference disturbance, interruption, claim or demand whatsoever and/or any person or persons lawfully or equitably claiming by from, through, under or in trust for the Transferor; and
(g) That the Transferor has duly complied with observed performed all the Rules, Regulations and Bye-Laws of the said Society and that the Transferor has neither received any notice from the said Society for or in relation to any breach of any of the Rules, Regulations and Bye-laws of the said Society nor are there any actions or proceedings pending against the Transferor instituted by the said Society or any member of the said society in respect of the said premises including any notice or action for expulsion or termination of the Transferor as the member of the said society;
6. In consideration of the Outgoing Tenant hereby transferring his tenancy rights and possession of the said flat in favour of Incoming Tenant with the consent of the Landlords, the Incoming Tenant has paid the aforesaid consideration for purchase of the said premises to the Transferor on behalf of the Outgoing Tenant in pursuance of the agreement arrived at between the parties as recorded herein. It is hereby further recorded that the Outgoing Tenant hereby surrenders, releases and transfers all his right, title and interest including tenancy rights and possessory rights in the said flat in favour of Incoming Tenant and the Outgoing Tenant has on execution hereof handed over vacant and peaceful possession of the said Flat to the Incoming Tenant as new and incoming tenant thereof. The Landlords have hereby simultaneously accepted transfer of tenancy rights of the said Flat in favour of the Incoming Tenant and issued the rent bill in his favour. In consideration of transfer of tenancy of the said flat by the Landlords as aforestated, the Incoming Tenant has paid a sum of Rs._________/- (Rupees _________________________ only) to the Landlords as non refundable premium.
7. The Landlords have simultaneously on execution hereof admitted the Incoming Tenant as tenant of the said flat in the said building owned by them and the Incoming Tenant agrees to pay the monthly rent to the Landlords from the date hereof @ of Rs. _______/- per month. On execution hereof and as aforestated the Outgoing Tenant has with consent of the Landlords put the Incoming Tenant in possession of the said flat as lawful tenant thereof. The Incoming Tenant has on or before execution hereof paid three months advance rent to the Landlords and the receipt of the same is hereby acknowledged by the Landlords. The tenancy of the Incoming Tenant shall be governed by the provisions of The Maharashtra Rent Control Act, 1999 and any statutory notifications/modifications thereof applicable from time to time. The Incoming Tenant shall not commit any breach of the provisions of the said Act and shall use the said premises only for residential purposes for himself and his family members.
8. The Outgoing Tenant states that he has not created any kind of encumbrance on the said flat. The Outgoing Tenant shall pay all the outgoings in respect of the said flat till the date hereof and thereafter the same shall be paid by the Incoming Tenant.
9. The Stamp duty and registration charges (if any) shall be borne and paid by the Incoming Tenant alone. The Transfer charges and/or donations/contributions payable to the said society for transfer of the said premises in favour of the Outgoing Tenant shall be borne and paid by the Transferor and the Incoming Tenant equally.
THE FIRST SCHEDULE ABOVE REFERRED TO
(Give description of the entire building of the Landlords)
THE SECOND SCHEDULE ABOVE REFERRED TO
(Give description of the tenanted flat)
THE THIRD SCHEDULE ABOVE REFERRED TO
(Give description of the Ownership Flat and the shares
issued by the society)
IN WITNESS WHEREOF the parties have caused this Deed to be executed the day and year first hereinabove written.
SIGNED, SEALED AND DELIVERED by the )
Within named “THE TRANSFEROR” )
PQR in the presence of …… )
SIGNED, SEALED AND DELIVERED by the )
Within named “THE OUTGOING TENANT” )
ABC in the presence of …… )
SIGNED, SEALED AND DELIVERED by )
the within named “LANDLORDS” M/S. MNO, )
a registered Partnership firm )
in the presence of …… )
SIGNED, SEALED AND DELIVERED )
by the within named “THE INCOMING )
TENANT” XYZ in the presence of … )
R E C E I P T
Received from the Incoming Tenant on behalf of the Outgoing Tenant a sum of Rs. _______________/- (Rupees ____________________only) in full & final consideration/satisfaction as under:—
——————
Rs. ________/- Total
==========
I SAY RECEIVED
TRANSFEROR
Witness:
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