Hello Sir, I just booked a flat in South Delhi by token money of 50K (only token money as of now) . Now we are going to go for an agreement, probably a Notary Document for first partial down-payment. Then we will go for complete down-payment in one or two weeks, at this time may be we will update the agreement above with a new one. Then once the loan is approved will we go for property transfer and registration process. Now my worry/doubt is that, in any case if he refused to go for registration process for any reason how above Notary Document will help me recovering the sum that I have given to the selling party or above AGREEMENT HAS NO LEGAL VALUE. Your valuable reply will be a priceless gift to someone's life. Sincerely, Prem
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
1. All The sale agreement for purchase of immoveable property requires to be registered compulsorily.
2.So if it remains unregistered and the builder later refuses to register the deed later you can file the case on the basis of unregistered agreement alos beofre the consumer forumfor necessary registration and delivery of possession.
3.So you can go ahead on the absis if notarised sale agreement.
All The best,
Hi, You have to enter into agreement of sale and you can notarized it also but the agreement should be drafted as per law and it should be printed in 200 Rupees stamp papers so that it will legally binding on the both the parties.
2. Better approach the local advocate and ask him to draft the agreement to sale so that it would protect your interest.
1) agreement for sale would be binding upon parties
2) if seller refuses to honour the agreement you can sue the seller to recover your money with interest
Any unregistered deed for sale agreement of immovable property is invalid and not enforceable in law.
The notarised agreement cannot be admissible for enforcing the sale agreement in a specific performance suit.
So you have to be cautious about it.
However based on the notarised document you may file a recovery suit if he he is not returning the money on cancellation of sale agreement.
