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Acquired property without full payment


13-Nov-2023 (In Property Law)
I had a sale deed between a builder and me for an apartment in bangalore. I have made complete payment and wanted to sell it to a third party. As the buyer wanted to get loan from bank, I made an assignment agreement in favour the party. The agreement said, the builder can directly register the flat in favour of 3rd party, with myself being an confirming party/witness. However, the builder allowed the buyer to register the flat without my knowledge. Now I have received half payment from the buyer's bank and for the remaining, we agreed to have it paid within 3 months and I got PDCs for that. Now I am worried that the PDCs might get bounced. What do I do now. Can I make some kind of agreement which states the above and have it registered?
Answers (2)

Answer #1
861 votes
You can issue notice against the person who has received the amount to return back the money. Are you made the agreement or promissory note for that amount? If you need further advice please contact me.
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Answer #2
705 votes
Let the PDC get bounced due to insufficient funds. we can easily recover the same by way of cheque bounce case. In case of buyer fails to pay, then he will have to undergo imprisonment.
Adv Jamal Sait
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