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  • Payment of consideration

I have paid a final consideration through rtgs to one who holds POA however in POA it is written consideration will be received in cheque, pay order or dd...so does paying through RTGS holds legally valid?
Asked 2 years ago in Property Law
Religion: Hindu

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30 Answers

It is legally valid as seller is concerned with receipt of consideration 

 

the mode of payment mentioned is only illustrative and does not excuse payment by RTGS 

Ajay Sethi
Advocate, Mumbai
99790 Answers
8147 Consultations

Yes, payment through RTGS is valid tender of consideration and it is legally valid. 

Siddharth Srivastava
Advocate, Delhi
1551 Answers

If the payment is made through any legal channel, it is valid, notwithstanding whatever the PoA says. Better obtain a proper receipt from the power agent.

Swaminathan Neelakantan
Advocate, Coimbatore
3070 Answers
20 Consultations

Yes,

Yogendra Singh Rajawat
Advocate, Jaipur
23082 Answers
31 Consultations

Payment through RTGS is legally valid and payment made towards sale consideration through it is O.K.

Shashidhar S. Sastry
Advocate, Bangalore
5624 Answers
339 Consultations

It's legally valid.  The payment is made in his account directly. 

Dalip Singh
Advocate, New Delhi
1096 Answers
36 Consultations

It is fine being legal tender. Just take acknowledgement of receipt of paid amount.

Siddharth Srivastava
Advocate, Delhi
1551 Answers

Better to get the Rectification Deed/ Supplementary Deed executed correcting the mode of consideration amount through RTGS and get it registered in the jurisdictional Registrar's Office.

Shashidhar S. Sastry
Advocate, Bangalore
5624 Answers
339 Consultations

Make payment through DD only as registered sale deed mentions DD payment 

Ajay Sethi
Advocate, Mumbai
99790 Answers
8147 Consultations

Proof of payment is important. More can be any one.

Yogendra Singh Rajawat
Advocate, Jaipur
23082 Answers
31 Consultations

The RTGS mode of payment is also a legally valid mode of payment and is recognised for the consideration has been passed, therefore the payment made through RTGS is very much valid and nothing to be concerned about it at this stage.

Actually this question should have arose in you before making the payment and to have passed the payment after confirmation about it.

T Kalaiselvan
Advocate, Vellore
89992 Answers
2495 Consultations

If the payment has been made through RTGS then how can the payment by DD  is mentioned in the registered deed?

If the payment is not yet made, then you better ,make the payment by DD as has been found in the deed.

 

 

T Kalaiselvan
Advocate, Vellore
89992 Answers
2495 Consultations

apply for correction in sale deed. 

Yogendra Singh Rajawat
Advocate, Jaipur
23082 Answers
31 Consultations

Deed of rectification can be executed to rectify the mistake 

Ajay Sethi
Advocate, Mumbai
99790 Answers
8147 Consultations

The document has been literally registered though not printed as of now.

Hence any correction without an authorised rectification may render the document a defective, therefore you may take a wise decision based on the practical situation. 

T Kalaiselvan
Advocate, Vellore
89992 Answers
2495 Consultations

Already replied. 

Siddharth Srivastava
Advocate, Delhi
1551 Answers

You can go for rectification deed if needed but it’s not a big issue as consideration is through banking channel

Prashant Nayak
Advocate, Mumbai
34526 Answers
249 Consultations

If the sale deed has already been registered with the DD particulars, you may execute a rectification deed narrating the necessity and register it too.

Swaminathan Neelakantan
Advocate, Coimbatore
3070 Answers
20 Consultations

- The payment through rtgs is valid and a proof of payment 

- If the sale deed is mentioned that the payment will be made through DD , then you should not pay through without a written consent by the seller 

- However, after the registration of sale deed , it cannot be cancelled on any ground even the payment also differs.

- Hence, for your satisfaction , you should take a declaration affidavit from the receiver of the amount after going details of sale deed . 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

As already suggested, let the printout be taken with DD particulars. Subsequently get the Rectification Deed executed by the parties incorporating the RTGS details instead of DD particulars and get it registered in the same Registrar's Office in which the sale deed had been earlier registered.

Shashidhar S. Sastry
Advocate, Bangalore
5624 Answers
339 Consultations

Rectification? For what? As such there is no defect which require rectification? Sale is complete and perfect. Just take a receipt or an acknowledgement of seller through email for record purpose. Take a certificate of payment from your bank. 

Siddharth Srivastava
Advocate, Delhi
1551 Answers

  1. The contract is legally valid because the seller is only concerned with receiving payment, not the specific method of payment.
  2. The mode of payment mentioned in the contract is only an example, and it does not mean that payment cannot be made by RTGS.

Anik Miu
Advocate, Bangalore
11017 Answers
125 Consultations

Even if it's not possible for getting the Rectification Deed, but still it won't harm your registry and it will not be treated as cancelled or null and void.

Shashidhar S. Sastry
Advocate, Bangalore
5624 Answers
339 Consultations

You were suggested what can be done on this.

If you are not willing to follow the process  then you may decide to face any consequences that may arise in future in this regard and if there is no problem then you will be safe

T Kalaiselvan
Advocate, Vellore
89992 Answers
2495 Consultations

No it will not be null and void but it’s good if you rectify it for future 

Prashant Nayak
Advocate, Mumbai
34526 Answers
249 Consultations

If seller agrees and ready to appear before Sub Registrar again, then go to the lawyer who drafted the sale deed to prepare a Rectification Deed stating that contents of para no...... of the sale deed No.  ....book ko.1 volume No.... has been given as follow

"................"

whereas it should have been as follows:

 

"................................"

and the same be read as part of original sale deed bearing no..... dt.........

 

I hope this would suffice the purpose.

Dalip Singh
Advocate, New Delhi
1096 Answers
36 Consultations

Sale deed is not void as full consideration has been paid to seller 

 

you can produce evidence of payment being made in event of any dispute 

Ajay Sethi
Advocate, Mumbai
99790 Answers
8147 Consultations

- As per Supreme Court , even non-payment of entire sale consideration cannot be a ground for the cancellation of sale deed.

- Once an owner transfers the ownership of any property through sale deed and even if the balance amount is yet to be paid or not paid due to some other reason, the transaction cannot be reversed.

- You should keep on record the said payment history .

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

Please be guided by my earlier advice.

Swaminathan Neelakantan
Advocate, Coimbatore
3070 Answers
20 Consultations

No. Take receipt that is sufficient. 

Yogendra Singh Rajawat
Advocate, Jaipur
23082 Answers
31 Consultations

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