LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

WgCdr AK Singh (Indiv)     11 March 2013

Purchase of agricultural land

Dear experts,

1. I intend to purchase approx 6 bighas of agricultural land in UP.

2. The land under consideration is part of approx 60 bighas of agricultural land, which is jointly owned by 6 brothers (inherited from their father).

3. Two of the 6 brothers had taken loan for purchase of a tractor by keeping the land documents as mortgage; and a mojor portion of the said loan is still unpaid.

4. All the brothers are ready to sign the sale deed. Plus, they are ready to receive the cost of land after adjusting the left over portion of the unpaid loan.

5. What are the implications for the buyer in the abovementioned scenario ? How should the purchase be done so as to avoid any legal hassles in future ?

Thanks.



Learning

 1 Replies

Manish Udar (www.Mehnat.IN)     11 March 2013

Sign agreement to sell. Then give advance. Then let them pay up for the loan. Then execute the agreement to sell.

www.mehnat.in


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register