sandeep (ENGINEER) 08 August 2012
1) Can a sale agreement be made on a mortgaged property by attaching a condition that the property will be registered in the buyers name after the clearence of loan ?
2)If the agreement was made with this condition attached 21 years ago and person who made this agreement expired 6 years ago ,
3)can the buyer now come and ask for the execution of the sale agreement with legal heirs ?
Please Advise .
Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 09 August 2012
1. Such Agreement to Sell is valid, and capable of specific performance.
2. You've not mentioned when was the loan cleared.
3. The period of limitation for filing a suit for specific performance is three years from the date fixed for performance of the contract or three years from knowledge of breach.
sandeep (ENGINEER) 09 August 2012
Thank you ,
The loan was cleared by the person in 2003 by monthly salary deduction , but due to clerical errors of govt officials the original documents havent been released by them , but neither the bank nor the govt officials have taken any action to sell off the land and clear the loan or sent any notice saying that the loan was not cleared . The person died in 2006 . Now can that buyer in agreement come and claim that the loan hasn't been cleared , asking us to clear it in 14 days notice and execute the agreement ?
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