HOUSE SALES MODE OF PAYING- 30 LAKHS
03-May-2023 (In Cheque Bounce Law)
Hello sir/mam, I am planning to sell my house for 30 lakh rupees. The party said they will give 10 lakh as cheque and 20 lakh as cash. so,
1. which is safe ?crossed or uncrossed?
2. They said 20 lakh they will give after I signed the document. Is that normal?
Please reply me please
Usually, money is paid before registering the sale deed. If you can encash the cheque before registration then it will be risk free. After registration of the sale deed if there arises any dispute then it become complicated and waste of time and money.
as long as you are putting the cheque number and amount into the sale deed, there will be no issue in getting the sale consideration by means of cheque. Once the cheque is obtained, immediately put the cheque for collection. If there is any bounce, we can cancel the deed immediately within 15 days by informing the SRO.
Sir, for your question number 1- crossed one is better, also get the account payee crossed cheque, so that there will be a direct transfer of amount to your account and you can take the cash out whenever you wanted and it is alao advisable not to have a large amount in hand. for your question number 2- first check whether the said 20 lakh is black money or white, and generally it will be black money, also find a common person to be a mediator who can interchange the money, don't just believe them and endorse the document.
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