Agreement of sale

Dear Ashish,

In your Agreement of Sale you have failed to mention that the aggrieved party is entitled for specific performance, instead of that you have favoured the Buyer stating that  if the seller refuses to register the property within the prescribed time, then the buyer will have the right to get the registry of a property from the Court" this has made the buyer for crooked thinking and the buyer took advantage of this and refused to  pay the balance amount. If you could have mentioned that the aggrieved party is entitled for specific performance, when the buyer failed to pay the balance amount within 6 months from the date of registration of Agreement of sale you could have entitled to get the transaction completed from the Court after collecting the balance sale amount from the Purchaser. Always conditions shall be applied for both the Parties. Better settle mutually or wait for 3 years to for expiry of time limitation.

With Regards,

M.Kupparaju,

Advocate.

file a suit in concerned jurisdiction civil court for cancellation of sale agreement as the clauses of the agreement  were  flouted by the buyer . 

Sir,

Also I want to tell something:-

(1). The buyer has given me Rs.60 Lacs through RTGS and Rs.I Lac Cash in advance. But in agreement written that Partly he has given us Rs.20 Lacs and Rs.10 Lacs , the rest he will give during registry of Land.

Also returned him back Rs. 35 Lacs through cheque as demanded by him.

(2). In the agreement the time limit in which the promise for doing the registry and giving the BALANCE PAYMENT is 6 MONTHS.

(3). Kindly let me know can  I sell the land to other party by giving him the Power of Attorney.

What will be legal implications.

Regards.

The buyer is related with the Ruling Party of U.P.

Sir,

Also I want to tell something:-

(1). The buyer has given me Rs.60 Lacs through RTGS and Rs.I Lac Cash in advance. But in agreement written that Partly he has given us Rs.20 Lacs and Rs.10 Lacs , the rest he will give during registry of Land.

Also returned him back Rs. 35 Lacs through cheque as demanded by him.

(2). In the agreement the time limit in which the promise for doing the registry and giving the BALANCE PAYMENT is 6 MONTHS.

(3). Kindly let me know can  I sell the land to other party by giving him the Power of Attorney.

What will be legal implications.

Regards.

The buyer is related with the Ruling Party of U.P.

Clarify what is total sale consideration, your statement is confusing, as i said earlier file a suit for cancellation of agreement, as it is registered. Even if you try to alienate through sale or POA it wont not  be helpful rather harmful.

Sir, the total sale consideration is Rs.60 Lacs(40 Lacs + 20 Lacs).

Kindly let me clarify if the time to complete the agreement is 6 months AS the buyer has said to do the registry within 6 months even if I objects anyway, then why to wait for 3 years. Already the time has been elapsed for 1.5 years from the date of completion of 6 months.  I EARNESTLY REQUEST YOU TO PLEASE CLARIFY IT.

Sir, as you have said earlier it would be harmful, kindly let me know how.

Regards.

Sir, the total sale consideration is Rs.60 Lacs(40 Lacs + 20 Lacs).

Kindly let me clarify if the time to complete the agreement is 6 months AS the buyer has said to do the registry within 6 months even if I objects anyway, then why to wait for 3 years. Already the time has been elapsed for 1.5 years from the date of completion of 6 months.  I EARNESTLY REQUEST YOU TO PLEASE CLARIFY IT.

Sir, as you have said earlier it would be harmful, kindly let me know how.

Regards.

As i said earlier cancellation suit is the best possible way, to regularise things. since the sale agreement is registered it cannot be confined to 3 years. Even if you try to sell, the  new buyer has to face the wrath of  your ex buyer along with you. From your statement it clearly shows  your ex buyer will be cooperative in finishing things amicably/