Hi Experts Greetings! I am going buy a flat from a friend for which we want to prepare an Agreement to Sell. He is living in that flat at present and he wants to mention a clause that the final execution of the sale deed should be two years from the date of agreement and I am okay with that as I don't need the possession right now. I have paid him the 90% value of the flat as he said he needed money to construct his second house. 1. Will it be improper/wrong/unnatural to mention a date two years from now for the execution of sale deed? 2. What options will I have if he does not execute the sale deed on agreed date? 3. What if we do not mention any date for execution of the sale deed?
2 years is pretty long time
2) you should not give more than 3 months time for execution of sale deed
3) in your case since you have paid 90 per cent of money insist on execution of sale deed at the earliest
4) if seller does not execute sale deed you can file suit for specific performance
1. See in agreement date after two years in format "on or before that date" can be mentioned.
2. You can approach court for specific performance of the agreement.
3. See then two years from date of execution of sale agreement will be calculated.
1. it is not improper rather non practical,
you should mention a date of about 6 months and after completion of 6 months period the date can be extended if both party agrees,
you came to know about the intentions of the seller within 6 months
2. you can file a civil suit for the specific performance of the agreement
3. date should be mentioned to avoid any future legal complications
Dear Sir
There are certain things to be ascertained.
Payment methods. Requirement commercial or residential and others before ascertainment of agreement.
In case we decide to execute the sale deed before six months of date of agreement and the buyer does not fulfill his duties within six months, 1. whats the maximum period I can wait before I file for specific performance in court and make him execute the sale deed? 2. What if I don't take any action for say 2 years from the agreed date of execution of sale deed? Will it hamper the validity of the agreement? 3. Can the seller cancel the agreement to sell if I dont act for say 1.5 or 2 years? The thing is we dont want want to hurry the execution, I paid him for the flat as he needed money, so it is mutually okay if there is a delay in proceeding towards sale.
1. It's not unnatural to mention a date two years from now for the execution of sale deed, since upto 3 years maximum time it's allowed.
2. There should be a Breach of Contract clause to protect both the parties and the contents of this has to have solutions like penalty clause, specific performance, etc.
3. Even if date is not mentioned at all in the agreement of sale, the maximum period will be 3 years for executing the sale deed, from the date of agreement of sale.
1. After time period is expired you can give a notice of 15 days to come for sale if fails.you can approach the court.
2. Yes it will you should act as per timeline of the agreement.
3.He can give notice and then cancel by filing before court.
Hi
1) When you paid 99% of Sale Consideration, it is advisable to mention time as 3 to 6 months.
2) You have to issue notice and for execution failing which you have to file suit for specific performance.
3) 3 to 6 months from date of AOS is reasonable time, further, you need to show your readiness and willingness to complete the transaction.
4) Since 90% of amount is paid, you need to issue notice and proceed, failing which you have to file suit.
5) You need to act as per the T&C of the AOS. It will not hamper the validity of AOS.
6) He may.
You have to file suit for specific performance within period of 3 years of refusal to execute sale deed
2) you should file suit for specific performance at the earliest and not wait for period of 2 years
3) it would not hamper validity of agreement
In an agreement to sell specific dates and actions to be taken should be enumerated and consequences for not adhering to the same should also be stated clearly. Failure to do so may result in losses if a dispute arises between parties.
If you have paid money you should tale possession of the property. If not then set a specific time line for it. Register the sale deed now and possession may be taken after a specified period.
Agreement to sell generally disputes arise as the price of the property appreciates and the owners become greedy and therefore safeguard yourself.
You should file immediately otherwise you have to explain the delay.
The sale agreement fir two years in case you want to purchase the property and you paid 90% of the consideration amount then what is the point of holding the sale execution you can leave your friend in the apartment to stay on rent it and get the property registered holding sale agreement for a long time is not good and in case there is any dispute then you have to go for specific performance of agreement and that is a lengthy process keeping registration period of 2 years it's not restricted anywhere but it is not advisable.
Valid agreement.
Have to file suit of specific performance.
Sale deed will execute anytime in 2 years and last date will be just after 2 years.
Buyer has 2 years to complete sale.
After completion of 2 years, suit will file in next three years.
Seller cannat cancel before 2 years
1. There is no legal infirmity in mentioning about this, i.e., the sale deed can be executed after two years from the date of sale agreement, this shall be one among the conditions for agreement to sale.
2. You can enforce the execution of sale deed through court of law if he refuses to do the same at that date.
3. In that case the sale agreement shall be valid for a period of three years from the sate of sale agreement.
1. It is highly unwise to delay Registration of the Sale Agreement and take immediate possession, more so specifically when you have paid 90% of the cost of Property.
2. The above is irrespective of that seller is a friend /relative /whosoever.... since times & circumstances change and in the event if such friend fails to honor the commitment THEN you are looking for major time & expenses in Civil Court litigation's, which may span more than 10 years in Indian courts.
1. You can wait up to one week from the date of expiration of the registered sale agreement and and can issue a legal notice to him expressing your willingness and readiness to pay the balance of sale consideration amount to get the sale deed executed on your name.
2. The sale agreement is even otherwise valid for a period of three years from the date of agreement.
3. If the sale agreement is made by a registered document then the seller cannot sell the property without cancelling the sale agreement.
Thanks a ton to all the experts for taking the time to answer my concern. So if I understand correctly, if specified in the AOS then we can set the date of execution of Sale Deed as two from Agreement date and then I will have 3 years from the execution date to serve him a notice and call him to do the same in case he does not carry out the same on agreed date, is that right? It will be a registered AOS, so will he have the right to mortage his property to a bank to avail loan after this agreement?
After entering into a registered sale agreement with a prospective buyer, he cannot alienate the property in any manner including mortgaging the property.
If he does any such act then it can be considered as breach of contract making the agreement as void
1. The limitation fir filing the case upon his non performance to the agreement is three years,
Means you have to file the case within 3 years not legal notice
After AOS he cannot mortgage the land
Your understanding is correct
2) he would not be able to mortgage his property after entering into registered agreement for sale
Yes it is correct. Yes you can seek loan from.bank though most bank disburse the amount only after the sale deed so you need to confirm same with bank.
Yes that is correct. No he cannot avail a loan facility as the property is pledged to you after a certain period.
Yes.
Generally the said registration is done by 6 to 8 months. Yes you can do the execution
1. No it is not wrong to mention date of execution of sales deed after two years.
2. You can file suit for specific performance against seller.
3. Date of execution should be mentioned in the agreement.
