1) I have entered into a registered Sale agreement on 9-1-2020 for purchase of NA converted land and paid almost 65% of the sale consideration. 2) Khatha to the extent of land we contracted to purchase was obtained only recently after inordinate delay of more than 2 years. 3) Registration will take some more time. 4) Since we have paid substantial amount already can we take possession of the land and record the fact of taking possession on the back of the registered sale agreement with a recital that both parties will shortly execute the conveyance deed. 5) What precautions should i take while taking possession of the land physically and in writing. 6) Since i am not taking possession at the time of the agreement and taking it now hope i am not voilating the stamp act of Karnataka
First answer received in 30 minutes.
Lawyers are available now to answer your questions.
It is not in interest of seller to deliver possession unless full payment has been received and registered sale deed executed
2) registered sale deed confers clear and marketable title to property
3)as buyer if seller is willing to deliver possession to you there is no harm in taking possession
5) buyer should give an undertaking to seller that he would make balance payment within stipulated period and that he has received possession of land
It depends on to whom delay in registration of sale deed can be attributed. If the buyer is not responsible for delay in getting the sale deed registered, he can certainly seek possession of property expressing his willingness to pay the balance sale consideration and getting the sale deed registered. If the buyer is responsible for delay, he cannot take advantage of his default.
There is no legal infirmity in the buyer taking possession of the property proposed to be purchased based on the sale agreement. You can proceed as proposed.
Yes if it's agreed between parties it can be done
- if more than half amount has been paid by you , then you can take the possession of the property , and if the seller is ready to give possession without receiving the full amount.
- However, if you have entered into an agreement with the seller , and the said agreement is not registered , then it can harm you in the case you take possession of the property without a registered sale deed.
- As per law, an unregistered agreement with the possession having no value in the eye of law , and therefore in case of dispute between the seller and purchaser the stamp duty will be attracted.
