Delay in executing agreement.
Querist :
Anonymous
(Querist) 25 August 2011
This query is : Resolved
Sir, I had entered into a registered agreement with a buyer for my small property and the due date was june 10, 2011. I have taken a token advance for the same. But unfortunately, the buyer has not come back and whenever I call, his family members keep giving me some excuse or other about his ill health, he being out of station, etc. I would like to know:
1. What is the next procedure for me to do?
2. Within what period of time will I have to send him a notice for not carrying out the deal?
3. If I fail to send the notice within the stipulated time, what are the repercussions due to failure in issuing the notice?
Thank you Sir for your advice in advance.
ajay sethi
(Expert) 25 August 2011
1)what are the clauses in agreement . does it provide for forfeiture of earnest money in the event purchaser fails to pay balance amount
2)if so inform him that you have forfeited earnest money .
3) in the alternative send a notice to him within 30 days of non payment callaing upon him to specifically perform agreement .
prabhakar singh
(Expert) 25 August 2011
Due date was june 10 of 2011 and so far no action taken,how will you prove that "time was essence of contract"?
Send him a speed post/or registered notice fixing a new date(say 10 September 2011) of registry sale alleging that same is fixed as requested by him on account of his illness telling that in no case this date shall at any cost be postponed as between you two "time has been the essence of contract since inception" and you have always been and still ready and willing to perform your part of contract on 10/09/2011 and shall be present on sub registrar office and that he should come prepared with balance consideration and get the sale deed executed fulfilling his part of contract with a warning that if he fails on the said date to comply with his part of contract,the agreement shall get rescinded and his earnest money would get forfeited and you shall be fully discharged of the agreement and shall be free to sale it to any body of your choice.
After service of this notice,appear on sub registrar office get your attendance marked(procedure is there for that) and if he comes execute the sale as per terms after recieving the balance and if he does not turn up then take a proof of your presence from sub registrar and feel free to do as you like.
But doing this much requires services of a lawyer so better engage one and do in the light of this opinion,hopefully you will sail.
jatin sharma
(Expert) 25 August 2011
1.you have to go sub registrar office and take a attendance mark on ur agreement.
2.you can send him notice with in 30 days after due date of agreement.
3.if you fail to send the notice then its not against you but you have prove the reason in a court if he file the suit.
you can also file a suit against him in specific performance Act to buy the property. than ur total liability is over to perform ur part service as per rule.
Guest
(Expert) 27 August 2011
rightly said by sharmaand others. follow
