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Enquiry about settlement during land registration
12-Nov-2024 (In Property Law)
I'm from Bangalore. I am selling a property. We have the registration fixed on 21st of November. The buyer wants to give me a cheque on that day but there are risks to accepting a cheque as it can bounce if the buyer doesn't have the balance. Will the registration be void if the cheque doesn't go through? What would be the recommendation here? Should I accept a Demand draft or is it okay to accept the cheque.
if you take a cheque which is mentioned in the sale deed and then when you present the cheque on the date told by the buyer if it gets dishonoured the cell did does not automatically become void, because the registration authority can know the fact of such dishonour only if it is intimated to them.
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Adv. S.K Prabhakar Shetty
Bangalore / Bengaluru | 1000+ Answers
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As per your query even if you take the cheque and the cheque bounces the registration will not be void or invalid, if you feel there is a risk in taking the cheque then you can get the payment through NEFT or RTGS to your bank account. Once the Sale Deed is signed by both the parties and completed the registration process it can't be revoked or cancelled.
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Adv. Farhaz Khan
Bangalore / Bengaluru | 25+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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