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Sale Flat agreement want to know about payment part
03-Oct-2023 (In Property Law)
Hello ,I would like to know that I m going to sell my flat to party. And party taking loan from psu bank so psu bank issued cheque in my name & a.c number but that release after 2 days once flat agreement submit in bank so that's safe my payment and party also giving me 1.5 lakh cheque if this cheque bounce then .I mean in both situation any one go wrong then my flat agreement will auto cancel or what precautions shd I take.
You may inform the purchaser that he will get possession of the property only when the cheques are realised and all consideration amount is deposited in your account. So far as legal scenario is concerned, sale deed exicuted without payment of consideration is ab initio avoid but the declaration is required to be obtained from the court, If possession of the property is with you, there would be less chances of any difficulty.
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Adv. Subhash Barot
Ahmedabad | 25+ Answers
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