Agreement of sale to be registered within 45 days
K.HANMANTHRAO
(Querist) 10 July 2013
This query is : Resolved
I have entered in to an agreement on 12th may 2013 to purchase a flat for 20 lakhs and paid an advance of 1 lakh for a period of 45 days to register the flat and haven't mentioned any forfeit of money in the agreement . As i have failed to register the flat within 45 days does my money will be refunded or do i get extra period of time to register the flat . But my owner is not ready to register the flat nor he is refunding my money. What should i do ?
Vidhi Joshi
(Expert) 10 July 2013
hope the claim is not time barred ( 3 years ) if not then you can file money recovery suit and later execution petition
Devajyoti Barman
(Expert) 11 July 2013
You can get back your earnest money but only of there is any such clause. If not, then you have lost it unless you go ahead with this agreement and buy the property on making full payment.
Rajendra K Goyal
(Expert) 11 July 2013
With out clause in agreement earnest money is not refundable.
K.HANMANTHRAO
(Querist) 13 July 2013
totally confused
is that refundable or not
V R SHROFF
(Expert) 13 July 2013
YOUR STATEMENT IS CONTRADICTORY.
U SAID
:as i didnt get loan i failed to register "
In fact you get the loan Only if you register the Agr.
U cannot avail loan on unregistered Agreement.
U did not specify dt of payment, dt of Agr etc. & to decide whether it is Time barred?
Vital details / facts/ terms of Contract missing.
So cannot advise you.
K.HANMANTHRAO
(Querist) 13 July 2013
I have entered in to an agreement [on 100 rupees stamp paper] on 12th may 2013 to purchase a flat for 20 lakhs and paid an advance of 1 lakh for a period of 45 days to register the flat and haven't mentioned any forfeit of money in the agreement .
As i have failed to register the flat within 45 days does my money will be refunded or do i get extra period of time to register the flat .
But my owner is not ready to register the flat nor he is refunding my money. What should i do ?
Dr. Jyothi Vishwanath
(Expert) 13 July 2013
I think the problem is like this.
agreement was made. advance was paid.
but final sale deed was not registered within 45 days.
in the agreement, there was no mention about forfeiture upon non-registration.
You are entitled to refund of your money back.
if he does not pay the money, I think suit for recovery of money lies in the court.
But for this the agreement must be duly stamped on stamp paper of proper value
otherwise difficult to recover through the court.
If any agent has mediated for this transaction, you can pursue the matter through him.
K.HANMANTHRAO
(Querist) 20 July 2013
Thank you Jyothi vishwanath garu
