Sir, I want to sale my inheritance property i.e. home. The buyer is showing that he can not pay the full amount in this time but want to get registration and will pay balance amount in one year. Now I want to the following points that it can be possible to sale the property & balance amount: 1. can be mentioned in the registry. 2. can be made a new deed for paying balance amount 3. can do any other good provision for recovering balance amount with following minimum procedure.
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1) You can go for "Agreement to Sale" initially and later on for "Sale Deed" both can be registered with sub-registrar of your local city.
2) And you will handover possession after sale deed once full n final payment is received from buyer.
If you want me to prepare both the agreement. I will prepare for you at reasonable cost.
Hello
The registry can be done and the balance can be paid thereafter but a separate agreement should be made with the Buyer and a fixed time frame must be clearly written down and adequate remedy should be provided in the separate agreement.
Regards
Don’t agree to any such conditions
2) under no circumstances execute such a registered sale deed wherein it is mentioned that balance payment would be made after one year
3) you can inform the purchaser that you woukd wait for one year to enable purchase to arrange funds then execute registered sale deed in his favour
You can
But dont give possession till full money is paid
Also include a clause in sale document that if the buyer defaults in balance payment within an agreed period then the sale deed will automatically get cancelled and both parties will execute and register cancellation deed
You can forfeit some amount from money paid so far and return balance without interest to buyer
Take a separate power of attorney from buyer for purpose of cancellation deed and its registration
Possession remains with you till full money is paid
1. The execution of registered sale deed without receiving full sale consideration cannot be done instead you can enter into a registered sale agreement by giving the time requested by him to pay the balance of sale consideration amount.
Until then he can remain as a tenant in your property on a monthly rental agreement.
2. Don't take any such risk which may not be enforceable in law.
3. The best option is that you enter into a registered sale agreement and allow him the requested time for completion of execution of sale deed at a later date by paying balance of sale consideration amount.
The execution of registered sale deed without receiving the full sale consideration amount would be a risk and he may even legally refuse to pay the balance sale consideration amount telling that he has already paid the entire amount for which you to run behind court for recovery.
Hence better avoid risk.
1. Yes it can be mentioned in sale deed along with cancellation clause that if in one year he fails to pay register deed shall be cancelled
2. It will be better if in same you mention so in case dispute arise it will protect.you.
3. Sir what I will advice you now make only agreement to sale registered on receipt of complete amount only go for sale deed.
1. IT would be highly unwise & improper to sell any property in the manner mentioned by you, since IF a dispute arises, THEN the matter would linger on for years & years in court, irrespective of any type of clauses in the agreement.
2. Ask the buyer to avail of Loan from Bank, for the remaining amount.
Keep Smiling .... Hemant Agarwal
1. Registry can only be done after full consideration is made.
2. Yes you may enter into the agreement with him and take the amount. On payment of the full amount later you may do the registry.
do not give the possession or get the registry done without getting the full compensation, in order to avoid future problems.
regards
1. Yes you can mention
2. you can execute a agreement.
3. Add a clause in sale deed that Vendee issued a post dated cheques and mention Cheque Numbers in Sale deed.in case if vendee failed you can cancel the registration.
Dear Client,
Once sale deed execute and possession delivered, you will be at back foot. If he did not made the payment than you have to approach court for relief which is time consuming and expansive.
You can mention this in agreement to sale not in sale deed, as in sale deed, stamp duty payable on full payment, dosen`t matter, if you will be paid now or later.
Don't sell your property on credit.
no once you complete the registration he is the owner. you cant take the property back. but you execute a contract with him and then if he goes back on the same you can keep the said house as security.
