Validity of sale agreement

Querist : Anonymous (Querist) 23 January 2012 This query is : Resolved
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?

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Shailesh Kr. Shah (Expert) 23 January 2012
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.

adv. rajeev ( rajoo ) (Expert) 23 January 2012
three years from the date of execution of the AOS

Raj Kumar Makkad (Expert) 23 January 2012
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.

V R SHROFF (Expert) 23 January 2012
3 years Limitation period is over, so now you can deal with it as if there was no Agreement.

Deepak Nair (Expert) 23 January 2012
You are rightly advised by the experts above. No room left for any addition.

Devajyoti Barman (Expert) 23 January 2012
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.

Raj Kumar Makkad (Expert) 23 January 2012
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Contract has already been rescinded due to lapse of time and his inaction.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.