Sale agmt - appointing someone to execute in case of death
venkatesh.blore
(Querist) 11 March 2010
This query is : Resolved
I intend to enter into a sale agreement with an old lady. The validity of the agreement will be 15 months. Whenever, I am able to organise the required funds, I will make the payment & ask for the sale deed to be executed and registered.
I fear that the lady might not survive for this long due to health concerns. I am aware that in the event of her passing away, the property shall be inherited by the heirs. But, there could be various claimants for the property and then the Court may have to determine who the heir is and that could take a lot of time. In the meantime, I will have a lot of uncertainty and delay in developing the land.
To avoid such uncertainties, can we provide in the sale agreement for appointment of some other person who shall execute the sale deed and receive funds on behalf of the legal heirs. This will relieve me from the tension and botheration of going to the Courts and the delay.
B K Raghavendra Rao
(Expert) 11 March 2010
No such clauses does not work in the matter of inheritance or ownership of immovable properties. So long as lady is alive, she can dispose off her properties provided they are her self-acquired properties.
The moment she dies, it shall be inherited by her legal heirs if she has not left behind a Will bequeathing her property.
Sale agreement is an agreement between the buyer and the seller. It binds only those two persons. It cannot bind the legal heirs after the death of the owner.
You will have to think of two aspects: her mortality and her health, till the 15 months' period you are talking of. If you are not sure about it, better not to deal with such properties.
Parveen Kr. Aggarwal
(Expert) 11 March 2010
The lady can execute and get registered sale deed in your favour wherein it can be provided that part sale consideration has been paid and the balance sale consideration will be paid in the next 15 months.
