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Unregistered sale agreement regarding selling of site
24-Sep-2023 (In Property Law)
I had a agreement dt 26/02/2015 for rs 50 lakhs to sell my site and received advance rs 5 lakhs and in agreement it is stated within 120 days after paying balnce amt it will be get registered otherwise will pay rs 40 lakhs and if not possible to register and remaing rs 5 lakhs will be paid and get register within 6 months from the date of the agreement {ie 26/08/2016} but buyer fails to perform the agreement and the agreement not terminated and the buyer was delaying further process so in the month of 30th dec 2015 i had one more unregistered sale agreement for rs 55 lakhs under specific performance act for same property and taken rs 2 lakhs as advance and within 30 days the party agreed to pay balance rs 53/lakhs and it will be get registered but he also failed to fulfill the agreement.Now first party lodged a complaint in police station i want that property and the seller has cheated me now i told the office i will reimburse the amount with bank interest rate and i will not sell
If the buyer fail come forward to pay the balance amount and get register the property in the stipulated period, you have serve legal notice on termination of agreement, better contact the Good Layer.
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Adv. Periyaswamy K S
Bangalore | 100+ Answers
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Is agreement of sale a valid document?
A sale agreement that is not registered will be invalid in the eyes and law. In the event that the builder fails to deliver the property in accordance with the sale agreement, you cannot enforce the contract through the court.
Is agreement to sell a valid contract?
A contract to sell is between a seller, and a buyer. The seller agrees to give the property or asset to the buyer for a specific price. A sale agreement is another name for the agreement to sell. This agreement is used to sell immovable properties such as buildings or land. 11-Nov-2022
How long is an unregistered sale agreement valid?
A contract of this type will remain valid for three full years after the date of execution. If there is a negative clause, such as a clause that states the buyer must register the property within three months of signing the contract, the limitation period will be extended.
What is the Supreme Court Judgement on agreement to sale?
The Supreme Court has ruled that although an Agreement to Sale does not transfer ownership rights to an immovable, if the prospective buyer performs their part of the agreement and takes possession of the property then they are said to have acquired possessory titles and the same applies... 07 Jun 2023
‘TIME IS THE ESSENCE OF ANY CONTRACT’.
If the buyer is not registering the property, send a notice to him that you are cancelling the agreement. If he responds also, you have the right to cancel the agreement on the ground that this is the second time he is not honoring the legal commitment. Please ensure to return all his earnest money you have taken as advance.
Do not worry about the police complaint since this is a civil matter.
Should you need assistance contact us.
Dr Gubbi, Counselor & Advocate, Bangalore
If the buyer is not registering the property, send a notice to him that you are cancelling the agreement. If he responds also, you have the right to cancel the agreement on the ground that this is the second time he is not honoring the legal commitment. Please ensure to return all his earnest money you have taken as advance.
Do not worry about the police complaint since this is a civil matter.
Should you need assistance contact us.
Dr Gubbi, Counselor & Advocate, Bangalore
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Adv. Dr. Gubbi S Subba Rao
Bangalore | 100+ Answers
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