Property sell and buy rights
ECM Invincible
(Querist) 15 April 2014
This query is : Resolved
I have a property in U.P and someone has finalised it to purchase, but I need six months to relocate to a new place and the buyer is ok with that on his following conditions
1. He would pay 1:1 as black n white money
2. He would pay Rs 2 lac cheque as a token money and then he would pay rest black within 3-4 months, and rest white money in last month (sixth) at the time of registration as per his condition.
I just need to know if I follow this way of deal what is the chances of getting fraud….. is it the right way of doing it.... and what if he wants me to sign some documents as an acknowledgement, WHAT SHOULD I DO IT?
I’m confused so much in a whole situation….
1. That he might prolong the deal for more than 6 months.
2. He could also put my property in a condition so that I can’t sell it to someone else if he doesn’t come in 6 months. And with this further he could try to take advantage to negotiate more.
LET ME KNOW WHAT IS THE WAY THAT DEAL GETS FINALISE IN TIME AND WHAT ARE THE PRE DOCUMENTATION REQUIRED IN A DEAL TO AVOID ANY SORT OF FRAUDULENCY.
R.V.RAO
(Expert) 15 April 2014
you must disclose your identity while asking a query.
whatever money you are talking about here in this forum, advices can be given only in respect of the money accounted in books.
whatever amounts are stated in your agreements etc...they speak about money accounted in books .
receipts can be demanded only for accounted money.
you need to enter into an agreement of sale for the sale of property in UP,which needs registration .
only an experienced property lawyer can help draft such agreements whom ,you may please approach.He will incorporate all the issues to protect your interests.
