• What agreement to be executed?

I am going to purchase a LDA (Lucknow Development authority) land from a party but the problem here is that the party only hold the allotment letter issued by LDA. Party requested to make some advance so that they can get it's registry done through LDA. In good faith ( mediator is my father's friend) first time I made a payment of RS 2 lac through a/c payee cheque. Later on they requested more money for registry. I again paid 1.5 lacs through neft but never executed any agreement. Now the party wants 1 lacs more to finalise the registry with LDA. Please advise me how can I safeguard myself now and what agreement can be executed now?? Also all these payments have been made in third person account. Later on I have to obtain housing loan on this land. Please advise me.
Asked 3 years ago in Property Law
Religion: Hindu

First answer received in 10 minutes.

Lawyers are available now to answer your questions.

12 Answers

1) enter into MOU with the seller

2) it should be mentioned that 5 lakhs has been received as consideration for sale of land

3) that seller shall execute regd sale deed in your favour within period of 3 months or so

4) that in the event he fails to execute registered sale deed he would refund Rs 5 lakhs paid with interest at 12 per cent per annum

5)tht seller shall obtain consent of LDA for sale of land to you

Ajay Sethi
Advocate, Mumbai
81077 Answers
5010 Consultations

5.0 on 5.0

Dear Client,

For any unmindful act,the party is himself liable. more so, paying in 3rd party account,

Execute agreement to sale and mention all the details from the bringing , terms, payment made , mode of payment, .

Yogendra Singh Rajawat
Advocate, Jaipur
21427 Answers
31 Consultations

4.4 on 5.0

Do not pay further without agreement and money receipt.Submit a complaint to the LDA and request to execute a registed deed. You can also locge a complaint to the Police.Failing which any relief you can file a case in Consumer Forum.

Minansu Bhadra
Advocate, Kolkata
444 Answers
31 Consultations

4.9 on 5.0

Hi, first thing to do is to get the information from LDA office about the Status of the plot ( name of allotee and the amount due that has to be cleared ) .. After , you are satisfied with the title of plot , enter in to a sale agreement mentioning the details of payment and the cheque no. .. For obtaining house loan , you will be requiring the sale deed of the plot

Hemant Chaudhary
Advocate, Gurgaon
4601 Answers
44 Consultations

4.9 on 5.0

please ask your self that with whom you are entering into an agreement to purchase his landed property.

the seller is only holder of an allotment letter from LDA. as on today he is not the owner of the property.

if i am not wrong the LDA will put a clause in the deed of the seller that the seller will not be entitled to sell the property for a considerable period of time say 10 years/ 5 years.

what you will do for that time.

first consider this aspect then think for purchase of that land by entering into a valid agreement for sale.

Manish Paul
Advocate, Kolkata
287 Answers
2 Consultations

4.9 on 5.0

Dear Querist

execute an agreement to sale that land with him/her and registered the same before sub registrar and also mention all the payment made by you on his.her instant. it will be secure and safe for your money.

Feel Free to Call

Nadeem Qureshi
Advocate, New Delhi
5912 Answers
281 Consultations

4.9 on 5.0

Hi,

please enter into a sale agreement with the party narrating the details of amount paid date by date with account no. and the party to agreement to complete the sale by completion of all the documentation from the vendor from LDA including registry.

The party should be made binding to compulsorily register the property in your favor after the registration from LDA is complete.

The vender should be made obligatory to sell the property only to other person with the prior NOC from you after discharge of complete due amount.

Thanks

Vimlesh Prasad Mishra
Advocate, Lucknow
6811 Answers
23 Consultations

4.9 on 5.0

Also please confirm from the allotment letter issued by the LDA if there is any clause restricting the sale of the property in any way.

Vimlesh Prasad Mishra
Advocate, Lucknow
6811 Answers
23 Consultations

4.9 on 5.0

You have to get an ATS executed between Your self and the Original Allottee.

Also ask him to get the Allotment Transfer in your name and also Deed to be executed in your favour

Parul Suri
Advocate, Faridabad
15 Answers

4.2 on 5.0

Ask the seller to get the consent letter from the LDA

Till then enter into a written arrangement with the person saying that Rs. 5 Lakh has been paid and that the sale deed will be executed within a duration of 3 months.

Also mention that how the same will be refunded if the same is not honoured.

Regards

Anilesh Tewari
Advocate, New Delhi
17860 Answers
320 Consultations

5.0 on 5.0

You can enter into a sale agreement based on the transactions happened before yo two so far and for the future arrangement of the execution of registered sale deed .

You can mention the cash transfer details in the sale agreement including the payment now proposed to be made.

Consult a local advocate and get his opinion also and his assistance to initiate steps for recovery of amount in case the seller is trying to play more games on it.

T Kalaiselvan
Advocate, Vellore
71133 Answers
1012 Consultations

5.0 on 5.0

Make an agreement of sale mentioning the payments already made after completion of sale you can go for bank loan

P V Reddy
Advocate, Hyderabad
422 Answers
3 Consultations

4.2 on 5.0

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer