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Book Flat before July 2010 to avoid Service Tax

Those looking to buy a house would do well to book one before July, when the new service tax levy on construction service will come into effect. The cost of flats will go up 3.3% of the total purchase consideration once service tax begins to be le

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Experts Exchange

Sale agmt - appointing someone to execute in case of death

Posted by venkatesh.blore

I intend to enter into a sale agreement with an old lady. The validity of the agreement will be 15 months. Whenever, I am able to organise the required funds, I will make the payment & ask for the sale deed to be executed and registered.

I fear that the lady might not survive for this long due to health concerns. I am aware that in the event of her passing away, the property shall be inherited by the heirs. But, there could be various claimants for the property and then the Court may have to determine who the heir is and that could take a lot of time. In the meantime, I will have a lot of uncertainty and delay in developing the land.

To avoid such uncertainties, can we provide in the sale agreement for appointment of some other person who shall execute the sale deed and receive funds on behalf of the legal heirs. This will relieve me from the tension and botheration of going to the Courts and the delay.

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