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Validity of sale agreement (Property Law)

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This query is : Resolved


Author : Anonymous

Posted On 23 January 2012 at 10:36

My late father,in a fit of depression,made a sale agreement for his chamber in 1996.Prospective buyer paid him some amount which he accepted.But my family members objected to this sale and the prospective buyer didn't approach for registration till date.My questions are:
1.Is the sale agreement still valid?
2.If the agreement is still legally valid, then can we,his heirs,ask for current market price after adjustment of the payment made including interest?
3.If the agreement is no more valid legally, what must be done to formally annul it?




Expert : Shailesh Kr. Shah

Posted On 23 January 2012 at 11:13

1.3 years from that date when both party have to registered sale deed as terms and conditions of ATS, they didn't do so.

2.No

3.Send formal notice.



Expert : adv. rajeev ( rajoo )

Posted On 23 January 2012 at 11:56

three years from the date of execution of the AOS



Expert : raj kumar makkad

Posted On 23 January 2012 at 13:22

The period of validity of sale-agreement is only 3 years and due to this rule, the agreement has automatically failed. The alleged prospective buyer has no claim against your property.

You all legal heirs of your father are free to deal with the property as per your free will and whims.



Expert : V R SHROFF

Posted On 23 January 2012 at 13:26

3 years Limitation period is over, so now you can deal with it as if there was no Agreement.



Expert : Deepak Nair

Posted On 23 January 2012 at 15:06

You are rightly advised by the experts above. No room left for any addition.



Expert : Devajyoti Barman

Posted On 23 January 2012 at 15:12

3 years for suit for speicific performance of contract.
For declaratory suit there is another 9 years from thereon.

If you are not interested to complete the sale then by letter rescind the agreement and return the earnest money your father received.



Expert : raj kumar makkad

Posted On 23 January 2012 at 15:24

You are not advised to return the earnest money or issue any notice to the alleged proposed buyer. He shall wake up from your notice.

Contract has already been rescinded due to lapse of time and his inaction.

Sote sher ko jgana theek nhi hai aapke sehat ke liye.



Expert : prabhakar singh

Posted On 23 January 2012 at 22:24

AGREE WITH MR.MAKKAD.


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