Soum Sen 22 May 2022

Consideration value paid other than seller bank account

I've purchased a residential plot from a person A, but the consideration value paid in the bank account of his Brother B with the consent of A. In sale deed all the transaction was mentioned clearly, but the account holder name was not mentioned there. Is there any problem with the sale? May the seller deny the transaction later on future?

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Sravika Reddy Kohir 21 June 2022

Hello Soum Sen, I acknowledge your question. The sale of immovable property is defined under section 54 of the Transfer of Property Act, 1882. It is a transfer of ownership in exchange for price paid or promised or part paid and part promised. Herein the sale deed has been executed and duly registered. Since the details of the transaction are mentioned in the registered sale deed, the seller cannot deny the deed on the basis of non-presence of account holder’s name in the deed and the registered sale deed can be administered as evidence in the court of law in case of any legal action has to be taken.

I hope I have answered your question.

Have a good day.