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Hemant Surati (Lawyer and Legal Advisor)     03 May 2024

Limitation period in property and others

Party A (Seller) and Party B (Purchaser) - They both were Neighbor  and Friend.  In 2014 Party A has sale his Residencial  Plot  to B. The Sales Agreement was made - The payments was made via cheque. The same is register before appropriate authority. Next days due to friendly relation Party B ask from Party A that he is need of urgent money for his Business. The money which was received by Party A for plot selling, was given to Party B for Business. Party B that given one written undertaking that the money will return back within three Years and he can pay @ 1% every month Interest to the party A. In-between Party B paid pay back some money in Cash to A. still the full O/s not paid. 

Now the Question is it be consider this as property matter which is having 12 years limitation - Or consider the same file the suit on cash receipt basis which was available.

 

Requesting for Expert view .. 

Thanks , 

Hemant. 

 

 

 

 



Learning

 5 Replies

T. Kalaiselvan, Advocate (Advocate)     03 May 2024

The limitation period is just three years whether to get the sale deed executed or for recovery of money.

The last date of payment of part principal or interest would be reckoned as the date of loan for limitation purpose.

Dr. J C Vashista (Advocate )     04 May 2024

Whether the loan amount (lended after agreement to sell plot) is part (further) payment of sale consideration as per new agreement ?

Advocate Bhartesh goyal (advocate)     04 May 2024

As per Art 54 of Limitation Act,  limitation period to file suit for specific performance  is three years from date of agreement  or  if date to perform contract is  specified in  agreement  then three years  from such date,

Hemant Surati (Lawyer and Legal Advisor)     04 May 2024

Thanks Expert for your view, 

Here tone party playing smartly he pay the amount tranfer the property officcialy on his name and take back the amount via blank cheque and on letter of undertaking. 

Limitation will covered on Cash Reeipt but its chalangeable in Court  ? - Further the sale transaction whether consider or not as the loan process was done after the date of property sale agreement. 

Thanks .. 

 

 

 

T. Kalaiselvan, Advocate (Advocate)     04 May 2024

You are not only confusing the experts here but also appear to be not in the knowledge of proper details or about the present situation. If you have not consulted an advocate in person yet, do it immeditely and get the suggestions in person on all such further proceedings.


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