I am in process of selling my flat to agreed buyer.I need to plan registeration of my sale deed agreement for sale of property . Buyer plans to make part-payment by availing Home Loan from a Lender Bank. Until now,he has already transferred "his own contribution" part of total agreed sale amount to me.Rest of the payment will be made by his bank to me after the process of registeration is over. Now I want to know that what clause ,I could get entered into sale deed which will protect me in case of any possible future default by Buyer's lender bank.
Basically I dont want to be in position in which ,I have lost the title of property and then because of any circumstances,Bank fails to disburse the balance payment.
Thanks in Advance to all who can guide me here.
Sir,
It is not advisable to stamp and register a sale document to a flat unless full payment is received.
Inclusion of provisional clause about payment will only entail unnecessary future litigation, however the possession of the flat will be lost.
Good luck,
Kishor Mehta
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