Respected Sir/Ma'am,
We are selling our property in Delhi. In property documents, we have agreement to sell year-1981 duty attested by Notary public & registered will deed Year-2009. Buyer is purchasing this property through loan from NBFC (Shubham Housing Finance Development Company Limited). Buyer housing loan has passed & disbursed from Shubham company and buyer will handover the original cheque to us after sale deed registration when we will handover the sale deed receipt to buyer housing finance company lawyer. Buyer lawyer had send the draft of sale deed to us and we added some clause related to surety of cheque receiving & its clearance and property possession. Please suggest me regarding this clause. Can we add these clauses in the sale deed or not and suggest me what we can add in the sale deed regarding it which don't create problem for seller & buyer. We need your suggestion regarding this matter.
As loan approval, Buyer housing loan company dsa have only send to him photo of sanction letter and cheque by WhatsApp in favour of seller but housing company have not send any letter, email, mail & message regarding loan approval to seller.
Clauses :
Actual Clause-
That the vendor has delivered the vacant and physical possession of the said property hereby conveyed unto the vendee who has occupied the same on the spot.
Edit Clause:
That the vendor will deliver the vacant and physical possession of the said property after clearing the balance payment cheque No.________ of INR 12,46,570/- and vendee agrees to the same.
(Note: Buyer lawyer is saying we can't add this clause in sale deed if we can't add then what we can add or what is the alternative option (other documents) for this.
New clause added:
The validity of the Registry and all the clauses related to the sale deed are subject to clearance of cheque no.___________ of 12,46,570/-. In case the vendor doesn't receive the amount via the aforementioned cheque the whole deal stands null and void.
Our main concern is that due to any reason, after sale deed registration, m, if housing company lawyer don't handover the or cheque dont clear from bank then what is the procedure of registry cancellation in that case. Please suggest and if you require any other details then please let me know.
file a Cheque Bounce Case.
