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Post dated cheques after property registration


19-Jul-2023 (In Property Law)
The buyer is insisting of giving some amount with post date cheques .After the sale deed is registered.Is it practically safe to take pdc cheques.and what will hapeen if the cheques are Dishonored
Answers (4)

Answer #1
274 votes

If a cheque issued at the time of executing a plot sale deed is not encashed, the sale deed does not automatically become void. The deed remains legally valid, assuming all other formalities were properly completed. In such cases, the seller's remedy is civil in nature they can file a civil suit for recovery of the unpaid amount. Cancellation of the sale deed is not the default option, unless fraud or misrepresentation can be proven.

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Advocate Chikirsha Mohanty

Adv. Chikirsha Mohanty

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Answer #2
758 votes
it is not safe to take pdc especially after making sale deed. even if the pdc is dishonored for any reason, you can have the sale deed cancelled, but it will be time consuming and involve court fees and legal charges. it would be wise to make an agreement to sell and accept token and pdc. thereafter once the cheques are cleared, you can execute a sale deed. in this case both buyer and seller are safe
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Advocate Sudarshan Desai

Adv. Sudarshan Desai

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Answer #3
561 votes
Sale deed is completion of transaction hence your rights over the said property will get fully transferred in the name of the buyer and subsequently if the cheques are dishonoured , it will be an expensive and time consuming task for you to recover cheque amount from court and you can not evict buyer from the flat. So do not take PDC.
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Advocate Mukesh Vasant Shinde

Adv. Mukesh Vasant Shinde

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Answer #4
991 votes
Hello Advocate Minakshi Ovhal here if amount are pending to give seller then the take post date cheque. if cheque bounce then seller take legal action against buyer. he file Negotiable instrument act sec. 138 case. any more information you can call me. thank you
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Advocate Minakshi Bapu Ovhal Dakhane

Adv. Minakshi Bapu Ovhal Dakhane

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