Abhinav Singh 06 March 2019

Precautions needed for selling property on pdc

Hello Everyone, So I am selling my ancestral property and also got an buyer. After final discussion, he agreed to buy it at the price of 30lacs. But he told me that he can pay 25 lacs at the time of registry and remaining 5 lacs after 6 months. Although he mentioned that he will mention all this in the registry, I still need to know what all precautions should I take before selling this property like wording of registry or any other legality. What would happen if the cheque bounce after six months?

Thanks in advance.

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5 Replies

Suhail suhail (LAWYER) 06 March 2019

You can make a conditional sale deed instead of absolute sale deed.

You can condition the sale to be absoluet and handing over of possesion after payment is received within your given period of time.

Abhinav Singh 06 March 2019

Thanks for suggestion. I will go for the conditonal sale deed but what is the buyer wants possesion immediately i.e. after the payment of 25 lacs as he want's to start construction. Should I accept this? If no, he may or may not buy the property as he wants to build his home.

Suhail suhail (LAWYER) 06 March 2019

You can give him possesion physically but in sale deed make the possesion absuoluet after payment.Just secure your rights ,if he deafulted in payment you have to bear a lot of problems .

Suhail suhail (LAWYER) 06 March 2019

You can give him possesion physically but in sale deed make the possesion absuoluet after payment.Just secure your rights ,if he defaulted in payment you have to bear a lot of problems .

Shashi Dhara 06 March 2019

If he takes possession and began to construction he spends his money for construction purposes ifany amount is left he may give but he tells hands up.. u take full consideration and then give possession. If not work to advocate ,court ,police,work to workless people's jai hind.proceed.