Dear All,
I am lending some money to one of my close friend. He wants to deposit his property papers with me as a collateral security. I checked with my lawyer. He is suggesting that, instead of just acceptance the property papers, get an 'Sale cum AGPA' signed and get it registered in the registrars office.
I am ok with my lawyers proposal. Just wanted to double check with you.
Is it safer proposal to get into an Sale cum AGPA agreement?
Can the receiver of the loan revoke the agreement ?
Can the agreement be valid for a period of 3 years? or for more years?
Is there any better way to have a safer transaction?
Thanks & Regards
Anand
