648+ Lawyers are online 
Registered property sale agreemtent
20-Mar-2023 (In Property Law)
I have made registered sale agreement with vendor by paying 0.1% of purchase price. Per sale agreement, the validity is mentioned as 3 months, but I would like to know few details:
1. What is time validity of registered sale agreement even if we have mentioned any timeline on agreement.
2. Can vendor himself/herself cancel the registered agreement without consulting the buyer/purchaser(note: incase vendor breaches the validity time of 3 months)
3. If vendor breaches the agreement from his/her side, what will be conclusion? I know, the advance amount needs to be refunded back. Is vendor needs to pay any penalty to buyer?
4. Buyer is ready to buy the property. What happens if the seller does not respond until the time line or after the timeline (per agreement it is mentioned as 3 months)
Thanks
Naveen
The agreement for sale is valid forthree years. If there is a negative clause in the agreement, say, the buyer has to register the property withinthree months', then, the limitation is extended by such period.If the Vendee does not fulfill the terms of the Agreement then Vendor by serving a legal notice can cancel the agreement even if it is registered and can sell the property to any otherperson.An agreement whether registered or not can be cancelled on breach of its terms.
Helpful?
Adv. Vedashree A
Bangalore | 500+ Answers
CONTACT NOW
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.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
