Hi... I got into a registered sale agreement at the sub registrar office for a house with a seller with 0.1 percent stamp duty. The time mentioned in the agreement was 2 months for the registration. We had informed the seller in writing and the seller acknowledged at the time of additional payment along with the receipt paid to him via cheque . The payment done at the time of agreement was to the loan account. Now vendor wants extension for the registration date. In case I am ok what is the procedure If I am not ok and want to stop the purchase what is the procedure to be followed for getting the entire money paid to him and in what time can it be recovered ( agreement says 7 days from the lapse) can I charge interest for the same till he returns the money whole back. Can I charge any case against him.? Can I bill all the expenses incurred by me to him for the process? Request you to provide practical working procedure...?
On his failure to honor ATS in time limit, agreement stands expire if not extended bilaterally. You are entitle to refund within 7 days.
Than you can charge interest on delayed payment. You can file suit of specific performance or recovery suit.
Yo can request court to provide you litigation cost.
Issue legal notice for refund first.
In case seller refuses to execute registered sale deed file suit for specific performance to direct seller to execute sale deed in your favour
2) in alternative you can issue legal notice to seller to refund your money with interest as he has failed to execute sale deed in your favour within period stipulated in the contract
Yes you can go through the terms of the agreement.
you can cancel the agreement to sell as the purchaser has failed to comply with the terms and condition of the agreement. The cancellation of an agreement to sell (sale agreement) depends on the terms mentioned in the agreement.In your case, the agreement provides for payment of the balance amount within 2 months, a condition which has been dishonoured by the prospective buyer. Thus, you can proceed to cancel the agreement by issuing a legal notice to him through your lawyer.
If you don't want to go forward with the said transaction then you can tell him to refund your money. If he doesn't do it then you can file a suit for specific performance and recover the money
See if you are ok with extension then in that case you both can agree in writing.
If you are not agreeing and he is not coming forward for registration then you have to file a suit for the specific performance seeking order from court to register the property in your favour. or asking the complete amount as per agreement back from him but the specific performance suit is practical solution.
Dear Sir,
You have every right to execute which accrued in your favor as per the terms and clause of agreement. Just get issue a legal notice and you are entitled for penalties and interest.
Even though you have made the time as two months, the sale agreement is valid for three years, hence there is no big issue in it.
Well if you do not want to continue with this agreement you can cancel the same on your own by communicating the same to him in writing and ask him to execute the joint cancellation deed and to return the booking amount since he did not honor the agreement.
am afraid that you may not be ale to claim any interest on the booking amount nor you can file any other case against him on this ground.
Since you are cancelling the agreement you may not be able to claim any loss or damages too.
Dear
If he doesn't get the registration done in the time mentioned in agreement you can send him a legal notice for either get the registration done or refund of advance with interest.
Yes you can file recovery suit and suit for specific performance against him
Yes you can ask him to refund the money paid by you.
