A land has been proposed to be sold to one buyer.The land is in the name of myself, my sister and my brother.The buyer has given Rs.100 000 on 06.01.2014 and another Rs.100 000 on 11.01.2014 towards advance by executing an agreement in a stamped paper which hasn't been registered in the Registrar office where myself alone has signed. The stamped paper agreement (unregistered) is with the buyer and I am not having even a Xerox copy of the agreement.Subsequently, the buyer has transferred RS.49 000 on 21.07.2014 through net banking.The total advance amount received by me is RS.2 49 000. The buyer is still unable to pay the balance amount and hence, the land has not yet been registered in the buyer name even after lapse of more than 3 years.As on date, the buyer is not demanding anything from me. However,I may be clarified as to (1) whether the unregistered stamped paper agreement executed for getting advance for the sale of the above land is still valid and also the validity period of the agreement.(2) whether the buyer can claim the advance already given by him in the later stage through court/any other mode.(3) whether I can sell the property to some other party now.
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1. It is your mistake if you do not have even a xerox of the agreement to sell.
2. An agreement to sell does not require mandatory registration.
3. If the buyer does not pay the balance amount within the time limit laid down in the agreement then you may either cancel the agreement and forfeit the earnest money paid to you, or you may file a suit for specific performance of the agreement in the civil court to seek binding directions to the buyer to honour his part of the agreement.
1.Unregistered sale agreement is very much valid.
2.However check whether any time limit was mentioned in the sale agreement as after the time limit specified therein the agreement ends.
3.So if you cancel the agreement or the buyer cnac elsit he is entitled to get back the advance money along with interest.
4.You can sell the proeprty only after cancelling the agreement and then refunding his money.
what were the clauses in un regsitered agreement ?
2) it is necessary to peruse the agreement to advice
3) since 3 years have elapsed since agreement was entered into and buyer has failed to make balance payment cancel the agreement
4) deduct 10 per cent from advance received and refund the balance amount .
5)you can then sell your property to third party
6) if buyer refuses to accept cancellation of agreement and file suit for specific performance in court burden of proof is upon purchaser to prove that he has complied with terms of the contract
1. An unregistered sale agreement is actually not valid and not admissible as an evidence in court of law in the event of a dispute between the parties..
2. Since you have acknowledged the receipt of payment of advance amount, the buyer has a right to recover the same even by filing a money recovery suit, however it should not be barred by limitation.
3. You send a notice to the previous purchaser stating that the agreement entered by him with you is lapsed and barred by limitation hence it automatically stands cancelled, hence you may collect the advance paid amount (after some mandatory deductions), at a time and date fixed by you which should be intimated one month in advance.
This communication should be sent by registered post.
After getting an acknowledgement to this communication sent by registered post, you may go ahead with the proposed sale of the property.
