I purchased plot of 78 sq.yard from Omproperty pvt ltd.Now this developer person given a land agreement paper on 100 Rs. without notarized.I would like to know is it valid? How this signed agreement document from developer person given me , is authenticated person for this document? This above two things i would like to know
1) agreement for sale would be valid and binding on parties
2) however sale deed has to be duly stamped and registered
3) the person who signed agreement must be duly authorised by a power of attorney or a board resolution to sign agreements on behalf of the company
An agreement to purchase a property which is not notarized can be enforced in the court as a charter of rights. Lack of registration does not make the agreement unenforceable.
1. Have you purchased the plot or just booked it?
2. Any agreement for sale of property is required to be registered to be legally valid,
3. Without proper authentication, the said Agreement for sale has no value.
Plot has been purchased and payment plan as per agreement letter which given me on 100 Rs stamp paper
1. Plot can not be claimed to be purchased unless full payment is made and the sale deed is registered,
2. The said agreement has no legal teeth for not having been signed by authorised person and also for want of registration.
If the plot has been purchased then a sale deed must have been executed in your favour. Once the sale deed is registered the rights flow out of it and not the agreement. Sale deed is compulsorily registrable.
Any property document or deed executed without it being registered will not have legal validity.
The supreme court verdict is clear that even the power of attorney to sell the property without the deed not registered is held invalid so any transaction for transferring the property either by sale or gift or settlement, if it is a unregistered document/deed, it is not valid in the eyes of law.
Hene you may ask the vendor to execute a registered sale deed document in your favor by you paying the requisite stamp duty for it and get it registered at your expenses or else you will lose the property if there is a dispute in this regard in future.
1) the agreement letter must be containing a clause as to when sale deed would be executed
2) builder would execute regd sale deed in your favour and hand over possession to you when full payment is made by you as per clauses in your agreement for sale
An agreement which has all the essential elements of a contract is called a valid contract. A valid contract can be enforced by law.
Essential Elements of a Contract in Indian Contract Act, 1872
1 Agreement - Offer and Acceptance
2 Legal purposes
3 Lawful Considerations
4 Capacity to contract
5 Consent to contract
6 Lawful objects
7 Certainty
8 Possibility of Performance
9 Not expressly declared void
10 Legal formalities like Writing, Registration etc.
Agreement - Offer and Acceptance
The parties to the contract should have a mutual understand regarding the subject-matter of the contract. There must be a "lawful offer" and "lawful acceptance" thus resulting in an agreement. The parties must have agreed to the subject-matter in the same sense.
Legal purpose
There must be an intention among the parties that the agreement should be attended to by legal consequences and create legal obligation. Agreements of social or domestic nature do not contemplate legal relations.
Lawful Consideration
Consideration means 'something in return'. In every legal contract, there must be something in return. An agreement is legally capable to be enforced only when each of the parties to it gives something and gets something. The consideration should not be unlawful, illegal, immoral or opposed to public policy.
Capacity to contract
Every person who enters into a contract must be competent. In other words, the person should be of the age of majority, should have a sound mind, and must not be disqualified from any law to which they subject. Minors, lunatics, unsound and intoxicated persons are incompetent to enter into a contract.
Consent to contract
All the parties must have agreed upon the subject matter of the agreement in the same sense. Section 14 says that if the agreement is induced by coercion, fraud misinterpretation or mistake, it is said to be "no free consent" and such a contract is voidable and cannot be enforceable by law.
Lawful object
If the object in the agreement is unlawful, the agreement is void.
Certainty
Every agreement of the contract must be certain. If the agreement is not certain or incapable of being made certain, it is void.
Possibility of Performance
Every contract must be capable of performance. Otherwise, the agreement is void. An agreement to do an impossible act whether physically or legally is void.
Not expressly declared void
The agreement must not have been expressly declared to be void under the Act.
Legal formalities like Writing, Registration etc.
A contract may be oral or in writing according to the Indian Contract Act. In certain special cases the agreement must be in written. In some cases like contracts by companies, selling or buying of shares etc., the contract must be registered.
All the above ingredients must be satisfied in every valid contract. It can be noted that all contracts are agreements, but not all agreements are contracts.
Check the above things are contain in your agreement as per law. Rs.100 rupees agreement is valid. If an agreement is notorised, it means that Notory person has witness the putting of signature of the parties in that agreement on his presence.
