About sale of property

sanjaysingh (Querist) 12 January 2015 This query is : Resolved
Sir, I want to buy a flat worth 18 lacs. But the seller says he will accept only 11 lacs in cheque and the remaining 7 lacs in cash. In the registry he will write only 11 lacs as the cost of the flat. He has agreed to give me receipt on plain paper of both cash and cheque payments. If after receiving the payment he refuses to sell me the flat, will such plain paper receipts help me to recover the entire payment from him (both cash and cheque payments).

I have suggested that we should have a registered agreement but he says even in the registered agreement he will write 11 lacs as the cost of the flat and give plain paper receipts. If after the agreement he refuses to sell the flat or in case of any other fraud, will I be able to recover the entire payment from him on the basis of plain paper receipts. If not, please tell me how to proceed in this matter. Will a registered agreement compel him to sell me the flat?

Follow Query

Report Abuse

Sri Vijayan.A (Expert) 15 January 2015
White Account Rs.11 Lac
Black Account Rs.7 Lac

Do you want to advice for Black money?

Guest (Expert) 15 January 2015
Dear Author,Though it is not advisable it happens in Real Estate Business.Better Let the Transactions of Payment and Registration happen on Same Time for your safety.Consult and have a Friendly Local Good Advocate with you during Transactions and Registration.

T. Kalaiselvan, Advocate (Expert) 17 January 2015
If is insisting on cash for the balance seven lakhs, you may settle it at the time of registration of sale deed, in the meantime you may enter into a registered sale agreement for Rs. 11 lakhs and mention the cheque number for having paid the entire amount. This will be a safe transaction.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries