SALE AGREEMENT VALIDITY

This query is : Resolved 
 


Querist : Anonymous (Querist)
29 March 2010

is it true that after particular number of years a sale agreement looses its validity if not registered or proper payment made to the purchaser. if yes what is the time limit. kindly give details


raj kumar makkad (Expert)
29 March 2010

If full payment has been made and no time limit is mentioned in the agreement then its validity do not expire however in case of all other agreements, its validity remains up to 3 years.

Parveen Kr. Aggarwal (Expert)
30 March 2010

An agreement to sell is merely a document to obtain another document, i.e. sale deed and it does not transfer title of property. No person becomes owner of a property by mere execution of agreement to sell in his favour. The Limitation Act, 1963 contains provision for limitation to file a suit to enforce an agreement to sell in Article 54 which provides that limitation period for filing a suit for specific performance of a contract is three years from the date fixed for the performance, or, if no such date is fixed, when the plaintiff has notice that performance is refused.

Deekshitulu.V.S.R (Expert)
30 March 2010

If time is the essence of the contract, the time for limitation of 3 yers begins to run from the date mentioned in the agreement. If no time prescribed, it is three years from the date of refusal by the purchaser or vendor. In that event time limit of three years runs to begin from the said date of refusal. This may happen after several years have passed after executing the agreement. In onoe A.P. High Court decision the suit was filed after a periof of 26yrs. The suit was held to be in time.

Kumar Thadhani (Expert)
03 April 2010

I agree with all the experts.

bhagwat patil (Expert)
05 April 2010

i go with respcted rajkumaji. if full consideration is paid it is the other side to comlete the contract.what r the reasons in getting delay. is the purchasedeed is ready? it is purchaser duty to to purchase the stamps and present the deed before registrar.



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