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The Tripartite Agreement For Home Loan is a crucial document used in Indian real estate financing when a property is being purchased through a home loan, particularly in cases involving under-construction properties or new developments. This agreement is essential for protecting the interests of all three parties - the borrower who is purchasing the property, the lending institution providing the loan, and the builder/seller who is responsible for the property transfer. The document typically includes detailed provisions about loan disbursement schedules, construction milestones, property specifications, and the responsibilities of each party. It ensures compliance with various Indian regulations including the RERA Act, Banking Regulations, and property laws. The agreement becomes particularly important in managing stage-wise loan disbursements and securing the lender's interest while ensuring the builder delivers the property as per specifications and the borrower's obligations are clearly defined.

1. Parties: Identifies and provides details of all three parties: the borrower, the lending institution, and the builder/seller

2. Background: Outlines the context of the agreement, including the property details and the purpose of the loan

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Loan Details: Specifies the loan amount, interest rate, tenure, and repayment terms

5. Security Creation: Details the mortgage/security interest being created on the property

6. Disbursement Terms: Outlines the conditions and process for loan disbursement, including stage-wise payments if applicable

7. Borrower's Representations: Contains warranties and representations made by the borrower regarding their eligibility and capacity

8. Builder's/Seller's Obligations: Details the commitments and warranties provided by the builder/seller regarding the property

9. Lender's Rights and Obligations: Specifies the rights and responsibilities of the lending institution

10. Events of Default: Lists circumstances that constitute default and their consequences

11. Remedies: Outlines the available remedies in case of default or breach by any party

12. Term and Termination: Specifies the duration of the agreement and conditions for termination

13. Notices: Details how formal communications between parties should be made

14. Governing Law and Jurisdiction: Specifies applicable law and courts having jurisdiction

15. Execution: Contains signature blocks and execution formalities for all three parties