Registered GPA of farmland in Karnataka - validity, risks
Context:
I am planning to buy an agricultural land (Kushki land) through registered GPA. Seller has received the property from his father and ready to get GPA's done from his only sister & his adult children as well. We are going for registered GPA and not for sale deed, just because property does not have AkarBand/Tippan. Getting this takes over 6 months & Seller stays far-off place and wants to get this done in his current visit.
The property is located in Karnataka. All records of the property is clear. Post GPA, I am intending to transfer the property to my name as soon as AkarBand/Tippan copy is available.
Questions:
1) Later - when I receive the AkarBand/Tippan copy, Can I register the property on my name without involvement of "Current Owner" (like signature/etc)
2) If (1) is not possible, Can I register it on my wife/father name?
2) Can the provisions be made in registered GPA agreement such that, if the seller or buyer dies (post GPA registration but before actual property transfer), GPA is transferred to buyer's descendants. and Seller and his descendants have no rights.
3) What are the risks if any?
4) Can there be a side agreement to cover the risks, if any?
Our local lawyer's suggested that, Since we are paying 5% stamp fees and this is a genuine transaction, This is risk free and can be done.
Looking for additional opinions.
Asked 7 years ago in Property Law
Religion: Hindu
The land in above question is part B. Part A (different survey number) has all the required documents clear and hence, it will be transferred to my name through sale deed. Given this, Seller wants full money (whole-some deal). And prices are negotiated such that, additional burden of stamp duties are taken care. Given this, Our lawyers felt GPA is much better than just sale agreement (As we are paying full amount). So my question is - if the GPA agreement is made to include clauses such as "irrecoverable" and "valid even after deaths of parties involved", Would such clauses are legal, will it hold in court of law if adverse situations arise (though, less likely) ?
Asked 7 years ago