Remedy to seller in formal bayana nama
Chetan
(Querist) 12 December 2023
This query is : Resolved
Hello Experts, i have a issue with bayana nama. As none of the threads listed show rightes of the seller, I am posting a fresh query:
We (03 owners, relatives) had signed a bayana nama with buyers (02 parties, business associates) for sale of our property. The bayana nama (AMT "x") was done on Rs 4000/- stamp paper in the front of the "Tehsildar". The clause of forfeiture of bayana if buyer is unable to purchase and double in case the seller is unable to sell was listed. The time fixed for registry was 04 months for final payment.
However, the buyers did not purchase the property on agreed date due to missing 01 paper (which was never discussed in said 04 months agreed period). Buyers and Sellers got their "haziri" registered on the agreed date.
Sellers got the said paper in 05 days and shared it with Buyers.
However, buyers refused to buy the property and a legal notice" return of deposit" was sent by buyers to the sellers. As a reply, a legal notice was sent by sellers to the buyers of their (buyers) inability to pay and cancellation of the bayana nama.
However, after 06 month the buyers have approached sellers to purchase the same property with same documents at reduced price but are un-wiling to give an "affidavit" of the agreement of reduced price. What is the remedy to the sellers:
1) In case buyers donot give an affidavit of reduced price
2) in case an affidavit is given by the buyers of reduced price ???
Kindly assist as we as sellers are feeling cheated ????
kavksatyanarayana
(Expert) 12 December 2023
The sellers can say to the buyers that the possession of the property will be given at the time of registration of the sale deed and the amount as agreed shall be paid by them before the Sub Registrar.
T. Kalaiselvan, Advocate
(Expert) 13 December 2023
It will depend on the supplementary agreement with the mutually agreed terms and conditions for sale of property.
You may get an supplementary agreement executed with clear terms of termination due to default if happens once again
Chetan
(Querist) 13 December 2023
Good Morning Experts, we have finally managed to receive a notarized affidavit from the buyers yesterday regarding
1) their intention to buy the property at a reduced amount,
2) their verification of our property ownership documents .
We feel the price offered is a lot less and want to know the "remedies" available to sellers in case of forfeiture of beyana amount and further sale of property to some other interested buyer.
kavksatyanarayana
(Expert) 13 December 2023
It is your will. If you do not satisfy the consideration offered by the buyers, you go for new buyers if any or advertise regarding your sale in a local district newspaper.
T. Kalaiselvan, Advocate
(Expert) 17 December 2023
You can settle the matter without complicating them any further if you want to live a peaceful life free from attending litigation
