Mention that possession of property would be delivered only after receipt of Rs 20 lakhs 

A sale deed can be registered that will become effective only after getting the amount of cheque through and only after encashing the cheque, this is called contingent sale deed, contingent upon receiving payment for the land registered. A clause to that effect has to be worded in the sale deed.

This is absurd

State that 20 lacs will be given by buyer or his lender within 7 days of submission of sale deed

And in case of default the sale will automatically stand terminated and the buyer will come forward to register a cancellation deed with the seller immediately upon expiry of the said 7 days if the 20 lacs balance is not given

For safety take a special power of attorney from buyer for purpose of the cancellation deed

Also do not handover possession unless the full payment is made

Also take an indemnity from buyer that he will have to return the original sale deed submitted to the lender upon default of payment 

Ideally the balance payment ought to be made simultaneously with registration of sale deed 

You can also tell the buyer that you are not agreeable to balance payment after submission of sale deed and that be let known to his lender 

You may also demand a bank guarantee from buyer for the 20 lacs which you can invoke upon default and encash it 

Sir

Generally no such term is written in sale deed and in fact it is mentioned that the money has been received by the seller. Without payment, a transaction becomes invalid. 

So you can mention in the payment column that the money will be given by the purchaser within 10 days of the deed and if not paid then the deed shall become null and void. 

If you haven't given possession then in the possession column, mention that the possession will be handed over after receipt of full amount. 

These two clauses will be enough but pressurise the buyer to pay on the date of sale deed execution.

Good luck 

It should be in the body pf the deed where you will mention that the sale will effect and deemed to be valid only after getting the consideration price from the finanace company.

To get the full format get in touch with me .

Regards

Without receiving the amount sale deed should not be registered. 

G.Rajaganapathy 

High Court of Madras 

You can execute the registered sale deed with an endorsement tht the sale deed shall be valid only after the full sale consideration amount has been paid and subject to realization of cheque submitter towards sale consideration, and the seller reserves right to revoke or cancel the registered sale deed if the consideration amount is not paid within the date stipulated in the sale deed.  

The sale deed with this specific endorsement would protect your interests. 

Do you signed any document issued from bank .

Bank issued a purchase loan to buyer then you have no worry about your payment. Most probably the bank issued DD in favour of the seller on the registration date. Even though you have two options.

1. Mention about the dealings of bank and transaction of money in sale deed and also an indemnity clause may be added in your favour .
2. Possession of the property should be delivered only after getting 20lakhs.

Dear sir/ma'am,

The sale consideration clause of the mentioned sale deed can be drafted as follows:

1. In pursuance of the aforesaid agreement and in consideration of a sum of Rs.2000000 __(Rupees Twenty Lakh_____) only received by the SELLER in cheque and upon receipt of the said entire consideration of Rs.2000000_ (Rupees Twenty Lakh_______) only within a period of seven days of executing this deed (the SELLER will admit, acknowledge, acquit, release and discharge the PURCHASER from making further payment thereof) the SELLER does hereby sells, conveys, transfers, and assigns unto and to the use of the PURCHASER the SCHEDULE PROPERTY ......... 
2. Failing the payment within the stipulated period of seven days, the purchaser holds the right to terminate the sale deed and claim all ownership rights of the said property.

Thank you.

- As per law, registrar cannot register a sale deed conditionally , hence you cannot write any clause of condition and validity of sale deed. 

- Further, without mentioning the consideration amount has been received by you , sale deed will not register in favour of purchaser. 

- Hence, if sale deed already registered , then you should ask from the bank to give a written declaration for the payment within 7 days of time.  

- Since, that sale deed already containing the cheque/draft number , then bank is bond  to give you legally. 

- Otherwise, you have right to cancel the sale deed legally , 

- Further, you should give physical possession of that property , only after getting the amount from the bank. 

1. You can incorporate a clause in the sale deed that if the cheque is not delivered within 7 days then sale deed will be liable to be cancelled.

2. Also include a clause to say that possession will be delivered only after the sale deed is executed.

ownership and title to the property will pass to the purchaser on registration of the sale deed with effect from the date of execution of the sale deed. 

that depends upon how your sale deed is drafted as per the clauses you wish to inculcate in the sale deed.

You can give the same on registration or execution of registered instrument. Only pay full amt after possession