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Can judgement debtor transfer property instead of money
12-Sep-2023 (In Civil Law)
We had court case which we lost and judgement was given against to us to pay 20Lakhs to opponent. but, We don't have money to pay off so, we wanted to registered our property instead of giving the money. Both the parties are agreed. what things to be done to avoid any legal consequences in future? opponent may say we didn't pay the money after registration... So, Do we need to write anything on 100 rupees bond paper to not having any pending things between us? if yes, is it valid in court to clear off the case ?
If the decree holder is willing to accept land instead of money from the judgement debtor then the same can be done, however, both the parties must execute an agreement accordingly so wherein it clearly states that the decree holder is willing to accept land instead of money and would not file an execution petition at a later stage.
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Adv. Samyak Raj
Delhi | 500+ Answers
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