Can a security clause be put in the sale deed
07-Jun-2023 (In Documentation Law)
Property Hello sir/madam As we are in financial difficulty , one of other friend has come forward to assist us financially, but they want our property ( house) registered in their name , but has assured us that as soon as we are able to repay , the property will be registered back in our name. Reg cost will be borne by both the parties both the time. My question is ,can we put a rider in the sale deed saying that , this reg is mainly for security for loan purpose , that they cannot sell the said property till the stipulated time ( time by which we should repay the amount)after the expiry of the said time , they can do as they pls with this property. Thank you Hoping for an early reply
I have seen and handled hundreds of cases like this I found 99% of such people are cheaters You may put any condition they will manage to see that you will not keep up your promise and ultimately loose the property Instead of this go for mortgage
Hello sir, don't go ahead and register the property in the name of the person who is ready to help you with your financial difficulties. It is advisable to execute mortgage deed and borrow the money. The stamp duty is usually borne by the purchaser.
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