Property Sale agreement
Querist :
Anonymous
(Querist) 20 May 2018
This query is : Open
I'm a buyer entered in to a property sale agreement (not registered)with a seller in Coimbatore(,tamilnadu) to buy a resale property which is under mortgage. Agreement time period is six months,5 months have elapsed.out of 100% of sale value ,50% of sale value is under mortgage loan and I paid 40% of the sale amount as advance where cheque numbers are Incorporated in the agreement document and as I got possessory right and with seller's oral consent I spent huge sizable value on renovation and seller himself has witnessed the renovation process as he is residing in the immediate neighborhood apartment .Just before the agreement is about to lapse in few days, I came to know the seller hasn't settled the loan using our advance and hasn't got the title documents ready,now he is trying to breach the contract after getting renovation done in my expenses and trying to sell the renovated property at my expenses.
What is the remedy for my situation?
1.) How to legally get him register the title in my favour?
2.)In other case What are the options to recover my entire advance amount including the renovation expenditure?
3.)agreement period is 6 months,5months have lapsed,also agreement not registered.will it have any implications?
KISHAN DUTT KALASKAR
(Expert) 22 May 2018
Dear Sir,
My answers are as follows:
1.) How to legally get him register the title in my favour?
Ans: You have to get issue a legal notice and then file a suit for specific performance.
2.)In other case What are the options to recover my entire advance amount including the renovation expenditure?
Ans: In the suit for specific performance you must state that, you are entitle for alternative relief of refund of advance amount and also amount spent on redevelopment of the property.
3.)agreement period is 6 months,5months have lapsed,also agreement not registered.will it have any implications?
Ans: It is okay, any agreement will have validity period of three years and in order to get it legally valid Court will impose some fine or penalty.
