kkrao Rao 25 December 2023
We (the other 42 persons) have a piece of land measuring 4.2 acres in Visakhapatnam, AP, and would like to enter into an agreement with a real estate agent. The land is under dispute with local authorities. The agent promised to get the land cleared and sold for an appropriate price, for which he is asking for a year to settle all the matters. For this purpose, the agent wants to write an unregistered GPA and MOU. Is one year too long and a valid period? Does any law object to this agreement?
T. Kalaiselvan, Advocate (Advocate) 25 December 2023
First of all it is not known what type of an agreement is being entered and whether all are the parties to this agreement.
Besides the unregistered agreement is not enforceable in court of law.
You may get the agreement vetted by a local lawyer and proceed only if recommended.
Dr. J C Vashista (Advocate ) 25 December 2023
Time of one year, if acceptable to both parties, is valid.
Unregistered GPA & MoU are admissible, but get them attested by notary public.
It is advisable to engage a local prudent lawyer to protect your interest.
kavksatyanarayana (subregistrar/supdt.(retired)) 25 December 2023
Yes. A time of one year is no doubt acceptable. In AP you go for registration of GPA & MoU.
P. Venu (Advocate) 26 December 2023
What are the terms of MoU? Please not that it is no longer valid for a third party to execute a deed of conveyance on the strength of GPA.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
