Tripartiate agreement

it is simple...as you said  x is the vendor , v becoming the confirming party/ consent party and y is the purchaser, here what clauses to be added is ur question.... simply the clauses should be there in respect of  the confirming party's willingness to nominate the purchaser like y to ensure the transfer of his right under the sale agreement and the way of confirming party getting back his amount already paid in his sale agreement .....

Mr. Ravi Kumar is right in his opinion.

you can either get into a tripartite agreement or make separate agreements for the said purposes.

if a tripartite agreement, then insert clauses giving following effects :

1. annul the agreement to sale of V.

2. return the consideration given by V to X or let Y to pay off the said consideration to V.

3. let Y to pay the  balance consideration to X.

4. have signatures of all the three parties with attesting witnesses.

or you can separately enter into three agreements viz. cancellation of the agreement to sale and then enter into a sale deed directly with the owner.

keep in mind that V hasnt got the title of the land but can only go for specific performace so V has no right over the ownership of the property.

 I think this clause very suitable

One Shri. ____, son of Shri. _____, aged about ___ years, residing at No.___ , had entered into an agreement with the Vendors under a Sale Agreeement dated____for purchasing the Schedule Property and has joined in the execution of this Sale Deed as the Confirming / Consenting Party in confirmation of cancellation of his agreement and to accord consent for the sale of the Schedule Property by the Vendors in favour of the Purchaser.

sanjeev desai

Respected sir,

Thanks for your immediate and useful reply.  I got exactely the same what i needed.