181+ Lawyers are online 
What to do in case of fraud by seller of agriculture land?
12-Oct-2023 (In Property Law)
I was purchased agriculture land in 2015 at price of 1000000. I was paid 80% amount of agreed purchase value and made registered banakhat of 1000000 with paid only 80% and will pay 20% in next three month. I was paid remaining 20% in cash but i have no proof of that payment. I was not did Purchase/Sale Agreement of that land till 2017. meanwhile he took agriculture loan on that land and refuse to pay. can i file suit on him for froud? what is the validity of Registered Banakhat?
You may first issue a legal notice to the seller cancelling the sale agreement which is defective. You may allow a stipulated time for him to return the sale advance amount with nominal interest, failing which you may initiate legal action by lodging a criminal complaint with the local police for the offences of cheating and fraud as well as a civil suit for recovery of amount paid as advance to the sale consideration.
Helpful?
41+
41+
Adv. Siddhant Sharma
Delhi | 500+ Answers
Chat
What is the time limit for Banakhat?
1) If the duration of the banakhat does not appear in the document, then a banakhat must be performed within 6 months of the registration date. 11-Oct-2018
How long is a sale agreement valid?
A sale agreement that is not registered has a validity period of three years. If there is a negative condition in the agreement, for example, that the buyer must register the property within 3 months, then the statute of limitation will be extended by this period.
What is registered Banakhat?
Banakhat should include the buyer's payment terms and the seller’s possession terms, so that the deal can run smoothly. Banakhat is done after the transfer of 10% margin money. 22-Feb-2023
How long is an unregistered agreement valid for?
Validity of Unregistered Sale Agreement
Unregistered Sales Agreements are legally binding and unpaid stamp fees can be collected by court order. The contract is enforceable for a period of three years after the date it was executed.
You can file a suit for specific performence of contract,
As you done your part of contract, now other parties refuse to done his part then you can file a civil suit for performance of contract and other party can take loan because banakhat does not creat any right in property as sale deed.
As you done your part of contract, now other parties refuse to done his part then you can file a civil suit for performance of contract and other party can take loan because banakhat does not creat any right in property as sale deed.
Helpful?
26+
26+
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."
