Which party keep original MOU ?
Querist :
Anonymous
(Querist) 16 June 2010
This query is : Resolved
Sir ,
we are owner of a land.
X-party did memorandum of understanding with
us to sale the land to x-party on non judicial stamp paper of 100 rs.
Let me know now ,
1.who keep the original memorandum of understanding ?
The party took away original MOU and gave us only xerox which is not signed by that x-party by pen.The xerox signs are there on our copy.
Is it the right way of making MOU ?
We do not have any original sign on our xerox.
What should be done? Please guide.
2.100 rs. non judicial stamp paper is ok or not?
Deal is of 18,00,000
They have given us cheque of 1,00,000.
Daksh
(Expert) 16 June 2010
Dear Anonymous,
It is the matter of negotiation. If you do not have original MOU go and ask for the authenticated (attested to be the true copy by the Notary) from the other party.
Rs.100/- paper NJSP is being a standard paractice is used for the purposes of getting the same registered if the need arises by making the deficiency of stamp fee.
Best Regards
Daksh
Querist :
Anonymous
(Querist) 16 June 2010
If ,
1.that x-party will give us sign on our xerox of MOU by writing on it true copy and
2. give receipt of original document (that is give in writing that original MOU is with x- party)
then,
it will fulfill the legal need or not?
VIJAY K. TEOTIA
(Expert) 16 June 2010
the original copy will be retained by the party who is giving money. the other party should retain notarised copy. such agreement does not create any legal right for specific performance if need arises. it will be taken as a receipt of advance. to fulfill as a legal need it should be registered by paying proper stamp duty.
Daksh
(Expert) 16 June 2010
Dear Anonymous,
Vijay is right and I would like to add that in case of any problem it would be a bit difficult if you have photocopy as compared to attested notarized copy for its evidentiary value reason.
Best Regards
Daksh
Querist :
Anonymous
(Querist) 16 June 2010
such agreement does not create any legal right for specific performance if need arises. it will be taken as a receipt of advance. to fulfill as a legal need it should be registered by paying proper stamp duty.
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Our lawyer has mentioned that if the x-party/purchaser will not pay remaining amount to us that is owner then the cheque /check of rs. 1,00,000 will be not refunded to the party who is purchasing the land. And this condition will not applicable if any objection will arise to the legal notice published in news paper.
Now is it possible to write such type of conditions in non registered document ?
how much legal value is having to this document?
Raj Kumar Makkad
(Expert) 16 June 2010
Such document need not be registered and the mentioned condition can be inserted in the agreement subject to both party understand its meaning and agree willfully to insert it.
Querist :
Anonymous
(Querist) 18 June 2010
By the way according to your advice I am asking notarized stamp and sign on my copy.
And giving you ratings with thanks to you soon.:)Thanks for your social legal advice.
Querist :
Anonymous
(Querist) 18 June 2010
VIJAY TEOTIA : says
to fulfill as a legal need it should be registered by paying proper stamp duty.
Expert : raj kumar makkad :says Such document need not be registered
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I am confused . Please let me know it should be registered or not?
We have used non judicial stamp paper of 100 rs.
