Sale through power of attorney
ajit
(Querist) 31 May 2012
This query is : Resolved
Dear sir,
I sold my flat at ambernath to person"A" for 8 lacs. through an agent. Agent made two documents - 1.Agreement for sale and 2. Power of attorney. Both these were on Rs.100 stamp paper. We went to Tehsildar office in Ulhasnager and infront of him signed on documents. Agent told me that he will do the "registration" afterwords.
This person"A" has now sold it to a third person "B" for 12 lac, but our Society is saying that the transaction between me and the person "A" is not registered and advising me to again enter into an Agreement for sale with this Third person "B" and get it registered.
How can i do this ? How can i sign the documents for 12 Lac, when i have not received it? What is the way forward ?
Need your kind advice urgently.Thanks.
A V Vishal
(Expert) 31 May 2012
Don't enter into a fresh agreement of sale this will lead to Income Tax problems, let the vendee who bought it from you handle it.
ajay sethi
(Expert) 31 May 2012
the power of attorney is understamped and inadmissible in evidence .
when property was sold by you to person A the agreement should have been duly stampd
registration of resale flat is not mandatory requirement. you cna inform society that registration is optional for resale flat
you should not agree to enter into agreement with B as no considertaion of rs 12 lakhs has been received by you .
ajit
(Querist) 01 June 2012
Dear Sir,
Thanks a lot for your prompt responses and guidance.
Agent called me yesterday. He says that we can cancel the agreement for sale and power of attorney with person A and can do a fresh agreement for sale and power of attorney with person B for the same old value. Person B is ready to register it by paying the stamp duty. If I do this, then there will not be further problems.
Is he suggesting the right way ?
I want to end this chapter as it is creating un-necessary tension in my family life.
Kindly guide me on this. Thanks in advance for all your support and guidance.
ajit
(Querist) 01 June 2012
Dear Sir,
Thanks a lot for your prompt responses and guidance.
Agent called me yesterday. He says that we can cancel the agreement for sale and power of attorney with person A and can do a fresh agreement for sale and power of attorney with person B for the same old value. Person B is ready to register it by paying the stamp duty. If I do this, then there will not be further problems.
Is he suggesting the right way ?
I want to end this chapter as it is creating un-necessary tension in my family life.
Kindly guide me on this. Thanks in advance for all your support and guidance.
ajay sethi
(Expert) 01 June 2012
when you sold flat you must have received money for sale of flat . did consideration change hands of rs 8 lakhs ? are you returning rs 8 lakhs .
if agreement is to be cancelled then you have to refund money received by you
Anirudh
(Expert) 01 June 2012
Dear Mr. Ajit,
You are not far away from Mr. Ajay Sethi who is located in Mumbai.
Why don't you approach him in person, show your documents, discuss things, get fresh documents drafted for signing?
Why you people shy away from incurring small expenditure at the right time instead of wasting large amount of money later on?
Shonee Kapoor
(Expert) 02 June 2012
Nothinmg left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
