Agreement to sell...!!!
samirbharani
(Querist) 30 May 2012
This query is : Resolved
my family(owner) have entered into a "agreement to sell" a plot of land to a developer with conditions... we have also given "a letter of possession" with the agreement.... But conveyance agreement is pending..........now there is a dispute regarding certain conditions between the owner & the developer......both the document are registered
what action can be taken....& what is the importance of the conveyance document now since letter of possession is already given ...
ajay sethi
(Expert) 30 May 2012
have you received full considertaion?
agreement for sale is more like a conveyance deed if full considertaion has been paid and posession given .
if builder has defaulted or committed breach of terms and conditions then contact a local lawyer . move court immediatedly
samirbharani
(Querist) 30 May 2012
yes full considertaion recieved!... is conveyance deed is of no importance now>????
ajay sethi
(Expert) 30 May 2012
what remains in deed of conveyance ? full consideratuion received , posession given , you have transferred right , title interest in property .
Adv.R.P.Chugh
(Expert) 30 May 2012
Dear Mr.Sameer,
Even if full consideration is recieved, since the contract is not an executed contract, but merely executory - i.e to be executed in future. Right now even if consideration has been recieved intoto title has not passed in the property and won't pass until actual deed of conveyance/sale is not executed and duly registered. The builder has a right to seek specific performance against you. but before he does that in the fitness of things you should put an end to contract by way of a legal notice on account of breach of contract.
samirbharani
(Querist) 30 May 2012
@ mr bharat chugh sir..
can you explain in a lay man's language what do you mean by ..."right to seek specific performance against you"
and is there any time frame of complaining in the court....?????? ... because there are more conditions which are to be fulfilled.. .
jayeshmankodi
(Expert) 30 May 2012
Once the consideration received in full and possession given then i think when you have transferred Right,Title and interest in the property.
jayesh mankodi
Shonee Kapoor
(Expert) 31 May 2012
What is your query? Has the property been transferred in your name?
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
samirbharani
(Querist) 31 May 2012
dear mr kapoor..
my family(owner) have entered into a "agreement to sell" a subdivided plot of land to a developer with conditions... we have also given "a letter of possession" with the agreement.... But conveyance agreement is pending..........now there is a dispute regarding certain conditions between the owner & the developer......both the document are registered
what action can be taken....& what is the importance of the conveyance document now since letter of possession is already given .....
what does executory contract mean?....
