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After paying 20% pf the cost can seller break the MOU
06-Feb-2023 (In Property Law)
The building was built with Stamp Duty paid on the name of Mr. X(dummy member) by the builder on the land and the allotment was done to Mr. Y (first owner). Mr Y has done MHADA transfer but not paid the SD 1. Is it needed to pay the stamp duty of the Mr. Y (bought in yr 2005) if the 2nd owner has paid the SD and Reg Cost in 2013 on his sale deed and I(3rd party) buying the same flat in 2016 will be paying SD and Reg of present sale deed? 2. After paying the 20% of the flat cost can a seller break the MOU saying he will not clear the earlier deeds? 3. What other legal actions could be taken?
"It is the buyer's responsibility to pay the stamp duty and registration costs. The consequence of insufficient stamp duty on such an instrument is that it would be impounded by the registration office and a penalty would have to be paid. Further, a document can only be registered within 6 months of the document being executed. If a document is not registered then it may not be produced before a court as evidence.
As far as the MoU is concerned, one would need to ascertain whether the terms of the MoU are binding or not. If the terms are binding, the you may file for specific performance of the MoU, i.e. the court will order the parties to adhere to the terms of the MoU and do all such acts and things as may be required.
The remedy before a court in all such cases would be through filing a civil suit. The nature of the suit would depend on the reliefs that you require. Feel free to get in touch with the LawRato team at 9599-000-555 for further assistance."
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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