Parveen Kr. Aggarwal (Advocate) 22 December 2009
Whether a document can be a mortgage deed as well as agreement to sell. For example, if time limit is fixed for repayment of loan amount (mortgage with possession interest and rent being equal) with a stipulation that on failure of the mortgagor repaying the loan amount by the date fixed, the deal be treated as an agreement to sell at such price.
Whether such an agreement is specifically enforceable?
Suchitra. S (Advocate) 22 December 2009
Yes. Such agreements are enforciable. In fact such agreements are common while taking bank loans.
Sankaranarayanan (Advocate) 26 December 2009
yes , it can be enforceable. if any one failing to obey the norms of agreement then they will be bear the penality
Dr.Anjani Kumar Vaidyasen,09431271130,Patna (Corporate affairs Taxation and Law Consultants Advocate) 28 December 2009
Ofcourse yes,Both type of document is evidential document under the eye of law.
Thanking you.
Suresh CSLLM (Service) 31 December 2009
No need to do that. becuase in case 'agreement to sale', final sale deed is must to convey the title. In case of mortgage deed, no sale deed is required to have title over property.
Suresh
9987091267
rajkumar.vnm.marupeddi (advocate) 31 December 2009
The said deed is absolutely enforceable. Please refer the decision and compare with your case : AIR(SC) 2005 P:4307Chennammal versus Munimalaiyan & Ors.
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