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sreejuu (professor)     15 May 2010

legal standing of sales agreement

sir

i propose to buy a portion of a plot  from a real estate contractor who had bought the full plot on agreement of completion of sale with the real land loard within five months time. as the sale has not been completed will there be any legal validity for an agreement made by me with the contractor for the further  sale with me .is it wise to pay an advance amount as required by the contractor?

kindly reply



Learning

 4 Replies

adv. rajeev ( rajoo ) (practicing advocate)     15 May 2010

still contractor is not a owner, so he has not clear tittle over the property to sell it to you.  You have to prucahse the prpeorty from the original owner.

It is not wise decision to pay the amount in adviance to the contractor.

N.K.Assumi (Advocate)     15 May 2010

 If you intend to purchase it you have to purchase from the real owner having title over the property, and as pointed out by Rajeev, the contractor's title is not yet ripened into ownership as the sale is yet to be completed and you have to be careful with that aspects. If you wish to purchase it get the title of the property clear through title investigation by  engaging a lawyer.

bhagwat patil (Property due diligence 9422773303)     15 May 2010

If it written in cotractors and owners agreement that the contractor can sign on behalf of owner u can give him small token but at he time of saledeed the sign of real owner is required.

Ashok Yadav (Lawyer)     15 May 2010

The agreement is legal if in this agreement the contractor has described abt the previous agreement, which was entered with the original land owner. But if the sale deed will be executed, then the original owner will execute it directly in your favour.


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