Payment not made within 40 days, agreement expires for default of buyer. Can contract with third party.
Unregistered sale 240 gaj ka open plot at Hyderabad agreement/can purchaser enter to other agreement
One person and me entered unregistered agreement .the period is 40days.the purchaser paid 3lakh /7.5 lakh.but it is not completed.ie registration not over before owner ship transfers / registration can the purchaser enter the sale agreement to other person, that 3 rd person can enter to sale agreement . here the purchaser saying that the property of me after only agreement there are 5 agreements.is it in court of law
Asked 7 years ago in Property Law
Religion: Hindu
12 Answers
only after balance payment is made by purchaser would sale deed be executed in his favour
2) to confer clear and marketable title sale deed is necessary
3) purchaser can then sell property to third party
is i am responsible to his purchasers ,if registration not completed because he is come to pay the balance.4 months are completed.as here advised by your team that it has no valid document for court of law..he is saying that the other purchaser is big goonda
Asked 7 years ago
if purchaser has failed to make balance payment within 40 days you are liable only to return the earnest money received by you
2) time is essence of contract
3) you are not bound to execute sale deed as full consideration was not paid to you
Before registration the ownership rights are not transferred therefore though he can enter for an future agreement though he can sale only after the registration is complete.
The purchase with whom you entered into sale agreement can file a specific performance agaisnt you others have no remedy against you,
See you are not responsible for other agreement if time is complete then you can cancel the agreement and can return his advance amount.
That is right it is not a valid document to prove any kind of liability
Don`t accept any payment now otherwise agreement will be binding. If agreement is executed on 500rs stamp , court will order it`s performance.
Agreement with the 3rd person will be bad in the eyes of law
In absence of registered sale agreement, you buyer is not entitled to sell the property to others
even the buyers of your buyer could not purchase the property knowing that the seller does not hold a valid registered title document in his name
you are not bound and liable to the buyers of your buyer
all of them will be considered not as 'bonafide purchasers for value without notice'
If you feel there is some fraud going on you can terminate the same unilaterally. As the same is not registered it will not affect you.
No doubt the unregistered sale agreement is not enforceable in law.
But it will be unfair to sell the property during the existence of a sale agreement.
The seller cannot plead to return the sale consideration amount if he has intended to sell the property to a different purchaser and that has been proved.
Law is common for all.
If the situation slips out of hand you may decide to approach court of law for remedy.