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land with agreement of sale cum GPA
06-Aug-2023 (In Property Law)
My dad had bought a land from his boss for the sole purpose of selling it after a few years when the rates go high. He had made agreement of sale cum GPA and decided to directly register the land on the buyer's name once he sold it. He had found a potential customer who was interested in it. Unfortunately my dad passed away a few weeks back. Now the customer is saying that my dad's boss should come for registration of land as my dad has passed away. The problem is my dad's boss is now in Europe and doesn't intend to come to India anymore. Since there are lot of debts on us we intend to sell this land as soon as possible. Is there any way to deal this?
It is not clear from your query whether the Agreement of sale cum GPA was REgisterd document ? If the same is Registered, you & other legal heirs of your fathers can execute the same. On the converse, if it is unregistered, your fathers boss can execute it through any GPA and add you all as consenting party in the prospective sale.
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What is the difference between a GPA and a sale deed?
Only registered deeds can provide legal backing for property transactions. GPA transactions are not sanctified by law. GPA is not a legal title for property transactions; its recommended to use a registered deed.
What is the full form of GPA in sales?
Ans. The full name of GPA is General Power of Attorney.
What is GPA transaction?
A General Power Of Attorney (GPA), also known as a General Power of Attorney Holder, is a document that allows one person (the Principal) to appoint another person (the GPA Holder) who will perform all the acts stipulated in the GPA on behalf of and for their Principal.
Is sale through GPA valid?
A general power of attorney is not valid to transfer title to a property when buying or selling. Transferring property titles requires a sale deed, after which the buyer must pay stamp duty and other registration fees. 9 Feb 2022
A sale under GPA will not make a property marketable. Instead, a sale deed must be executed. So, a sale deed must have been executed first against Z. Z would then become the owner of Zs property, and it could be sold to A.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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