issar chithi
ramesh
(Querist) 24 July 2011
This query is : Resolved
if i purchase a property and make issar chithi on 100 Rs. stamppaper by paying 30% of the total consideration. balance 70% is payable after 6 month and sale deed to be executed after that.suppose i fail to pay the balance amount on that day ,(after 6 months ))can the seller cancel the deal and forefeit my issar amount paid ? just because it is mentioned in issar chithi.pl. let me know my email address rameshgajwani@rediff.com
R.Ramachandran
(Expert) 25 July 2011
If in the issar chitti it is written that the seller can cancel the deal in case you do not pay the balance within 6 months and that he can forfeit the advance given by you, then he can cancel the deal and forfeit the amount paid by you. All will depend upon what is written in the Issar Chitti.
