Regarding land sale deed through draft payment
Rupesh
(Querist) 25 October 2014
This query is : Resolved
Hi Sir,
Shortly i am going to sale one of my land. Purchaser will be paying whole amount to me through bank draft at the time of sale deed registry. My query is what will be happen if after sale deed signing, bank draft couldn't be encashed by bank due to any reason?
thanks.
Shailesh Kr. Shah
(Expert) 25 October 2014
you can only entitle to get money of sold land unless sale deed contains contrary provision of encashment of bank draft amount.
Kumar Doab
(Expert) 25 October 2014
Let the sale deed be drafted by your lawyer and protect your interest.
Dr J C Vashista
(Expert) 26 October 2014
1. Bank draft is issued by the banker only after receiving the amount, hence there is no question/risk involved in receiving the consideration through draft, i.e., it would be honoured except the case when it is forged.
2. The mode of payment of consideration amount shall be endorsed in the Sale Deed.
3. This is an unfit and hypothetical query.
ajay sethi
(Expert) 26 October 2014
agree with Dr J C Vashishta
Rajendra K Goyal
(Expert) 26 October 2014
Banker is trusty to the payee for the amount of the draft. It would be paid if the it is OK. However, you should get the sale deed drafted by some lawyer which would protect your interest.
malipeddi jaggarao
(Expert) 27 October 2014
There are two possibilities.
1) The DD will be returned if it is forged.
You have remedy you can request for cancellation of registration and file cheating case against the purchaser.
ii) Some times the DD can be returned on technical grounds like date, amount in words and figures differs, signatures not tallied etc.,
In such case the you can ask the purchase to rectify and give the DD.
In the sale deed, you should make a mention that the consideration is received by way of _________Bank DD No.____date___amount. This will protect in case of problems as pointed in i) and ii).
Do not doubt people to that extent. After all he is purchasing your property legally. How can he cheat you by giving a fake Demand Draft? Have reasonable faith in people.
T. Kalaiselvan, Advocate
(Expert) 27 October 2014
reasons the bank DD is not able to be cleared and the buyer is refusing alternate payment, you may apply for cancellation of the registered sale deed on the same ground.
Raj Kumar Makkad
(Expert) 27 October 2014
You have rightly been advised that though the chances of difficulty in the encashment of banker cheque is remote but even then this fact may be recited in the sale-dee itself.
