Agreement Signed with out any time limit

Querist : Anonymous (Querist) 04 December 2010 This query is : Resolved
Dear Experts
My Father in law has 6 daughters (5th one being my wife) and they have land on daughters name but due to some reason they have sold some of the property and for the remaining property they have signed a sale agreement 12 years back at a rate which is far lesser(10 times) than current property value. And the buyer has paid some 60% of the agreed value at that point of time. And after that he has not comeback to pay the remaining amount. Now that the property value has gone up drastically he came to pay the remaining amount and insists on the registration of the property on his name. Now when we checked the agreement now we found that he has worded it in such a way that whenever he will pay the remaining amount he will pay with certain rate of interest to us. Now the matter is such that if we are to honor the sale agreement we should be accepting the 12 lacs of cash and tranferring the property worth 10 crores. Please suggest whether we have any point on our side to fight for justice. Infact he filed a case against us that we have not honored the sale agreement in last 12 years and we are not interested in the same etc etc.Please help

Fayaz

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Arun Kumar Bhagat (Expert) 05 December 2010
Specific performance of the said agreement seems to be time barred. There is every chance of your winning the suit.

sachin sethi (Expert) 05 December 2010
i also agree with Mr. Bhagat,, but one more thing u should take care of is whether any date has been fixed in the agreement for execution of sale deed or not...if it is fixed then the suit should have been filed by him within 3 years of date on which sale deed had to be executed...if it is an open agreement i.e. to say without fixing the date as aforesaid,, then also you can stress on the conduct of the purchaser that it was a document which was signed for some other purpose but has been converted by him (while playing fraud)in to an agreement to sell....take pleadings as suits ur position as per the document..you have a good case...

niranjan (Expert) 05 December 2010
It would have been better if you had written as to how the pltff.pleaded the point of limitation.The reason is that three year period would start from the date of the denial and not from the date of agreement. Primafacie I agree with Mr. Bhagat and further that Delay will help you.

Devajyoti Barman (Expert) 05 December 2010
yes

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