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Can the MOU be signed by one of the sellers in case of a flat sale
29-May-2025 (In Property Law)
We are purchasing a resale flat, this flat has two sellers of which one of the sellers is not staying in Mumbai. The sellers have requested two weeks additional time to do the registration process. In the meanwhile we have sold out flat & need to move out in a week's time. Hence the seller suggested we sign an MOU with one seller and they will hand over the key to us with the agreement that we will pay them 15% of consideration amount. Will the mou be considered legal in this case?
MOU does not really have a legal standing in law. Also, make sure both the sellers sign on the document, if at all you intend to enter into an MOU. Feel free to contact me for seeking any legal advice as regards the same.
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Adv. Prerna Shukla
Mumbai | 700+ Answers
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As per law both the sellers signature will be needed on the agreement for sale and also on the mou. Since one of the party is not available for signing the mou there are chances that he may take an objection in future for telling the said flat. In this scenario you can ask for power of attorney to be executed by the person in favour of the person signing the document. In the absence of a power of attorney MOU is signed by only one person it will be a weak documents as the other person may object the same.
Regards
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Adv. Neelkanth Goswami
Thane | 400+ Answers
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Dear Client,
If there are two owners, the MOU has to be executed by both parties, unless a POA to that effect has been given by either parties.
In your case, the MOU won’t be considered legal, as it is signed by just one seller in the absence of the other seller
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Adv. Devashish Dilip Wani
Mumbai | 25+ Answers
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Well, the facts mentioned by you are still not clear. I need to understand facts of your case as well as need to scrutinize the MOU before terming it either as legal or illegal. Hence, I humbly request you to connect on call first, so that, I can understand your case, get access of MOU from you and then render you legal advisory!
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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Dear client based on your query, An MoU can outline mutual commitments in property transactions, but its enforceability depends on its terms and legal formalities, also to ease the matter we can help you regard the process and in legal ways for which you can connect with us.
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Adv. Kalpana Sanap
Pune | 200+ Answers
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