Cancellation of registered sale deed
Praveena
(Querist) 25 January 2016
This query is : Resolved
Dear Sirs,
We do have 200Sq yards vacant non-agricultural land in hyderabad, Telangana in the name of my mother and we have put it on sale.
One of the construction company contacted us with a deal of 18lacs for the property and proposed to pay Rs.10lacs by cash in advance and Rs 8.0Lacs by means PDC of 3months but wanted us to register the property on their name now itself.
HE assures that cheque will not be bounced and in any worse case if it gets dishonored the registration will remain cancelled and property transfers to my mother's name.
He said that he will mention a clause in the registration documents (sale deed) that in event of dishonour of cheque registration is not valid.
Is it true, can i believe it? Please do suggest.
Praveena
kavksatyanarayana
(Expert) 25 January 2016
Author, it is not possible to mention a clause in the sale deed that that in the event of dis-honour of cheque registration is invalid. a sale means some grain/property is sold and for it consideration will be paid under TP Act. If you are interested then you have to get a simple mortgage deed on a property or can get a promissory note for the amount with a condition that the amount will be paid in ------- months/years, otherwise you may file suit against me for the amount.
Rajendra K Goyal
(Expert) 26 January 2016
There seems no reason to agree to such conditions. For a builder / construction company Rs. 8,00,000 is not a big amount to arrange.
Praveena
(Querist) 27 January 2016
Dear Sirs,
Thanks a lot for the information.
Praveena
