1.Have a agreement to sell my plot with party--A 2.Have received advance payment from party--A towards the sale of the plot 3.Party A..the buyer suggests to receive part payment from a party--B towards the sale of the plot through RTGS 4.Party B is not mentioned anywhere in the existing sale agreement. what is remedial solution or an answer to this situation.
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1) insist on all payments be routed through A only
2) agreement is entered into with A only . Full consideration should be given by A only
3) A can very well ask B to transfer money in his account and then A can transfer money to your account
4) you don't want B tomorrow to lay claim on your property on grounds that he transferred money to your account
Why does he want you to receive payment from someone other than the seller? Be that as it may, you should execute a separate agreement with him to document your intention to receive payment from Party B.
If the terms and conditions for sale of the property in question is agreeable to all the three, a tripartite agreement can be made among the three parties in which other issues can be included for proceeding legally on the issue. This tripartite agreement will save any litigation in future in this regard.
Hi, it is better you have to entered into fresh Agreement of sale cancelling the earlier one and it has to be draft as per law and show the amount paid as advance.
1. For a sale to be legally completed, there shall have to be flow of consideration from either side,
2.You are parting with the title of your plot to A and A is supposed to part with the entire consideration in your favour,
3. In the instant case A is suggesting you to accept pat payment of the consideration from B without any mention anywhere about who will pay for the consideration for A,
4. Such acceptance of part payment of sale proceeds fro B for the sale to be conducted to A is illegal,
5.Let B transfer the money o A through RTGS who can counter RTGS the ame to you.
