Land and recovery
Manish Joharle
(Querist) 11 February 2014
This query is : Resolved
I had bought about 8 ghuntas of Land in Pune for about 28 lacs in Aug 2011. The sale deed was executed and duly registered with the Seller called as Sawant. While executing the Sale deed the 7/12 did not have Sawants name but the name of the earlier owner called Sethi. Sawant promised that he had applied and once his name appears he will also get my name registered on 7/12. Later after an year Sawant informed that he has been duped- the Sethi from whom he bought was an impostor and not the real Sethi. He has agreed to cancel the sale deed and return our money.however he is dragging the matter and unable to collect the money he promised to return us.I also later ascertained the matter and confirmed that he was really duped .He owns a flat worth 35 lacs where he stays currently which he says he can sell it to us in exchange of the money. The flat is mortgaged to a bank and about 4 lacs needs to be paid to release the flat from bank. I can either pay this or transfer the loan on my name. My question is : Can Sawant and self execute a sale deed of the flat ? is it legally possible since no money will be transacted ? Looking forward to your valuable advise. In the above case as yet I do not wish to go for litigation but try to sort out the matter amicably at first.
ajay sethi
(Expert) 12 February 2014
let sawant find a buyer for flat . the buyer can repay loan of Rs 4 lakhs directly to bank . on receipt of sale proceeds sawant can return your 28 lakhs and execute deed of cancellation
Manish Joharle
(Querist) 12 February 2014
Dear Mr.Sethi,
Many thanks for your reply. Currently the flat is occupied by sawant. Our strategy is he sells the flat to us then we enter into a 6 months lease agreement with him and allow him to stay there. Until then he will arrange the money and we sell the flat back to him. This way he will not get displaced and our money will also be secured giving us peace of mind. If he sells to a buyer he will then need to essentially vacate his flat. Request your suitable guidance for our dilemma
T. Kalaiselvan, Advocate
(Expert) 12 February 2014
You have thought about a good idea, this wold be helpful for both of you, there is no legal infirmity in it, you can proceed but consult a local lawyer/consultant before taking a decision.
Manish Joharle
(Querist) 14 February 2014
Dear Sir,
Many thanks for your reply as advised by you we shall consult with a local Lawyer and proceed further.
