Notaried deed of agreement
rajesh kumar
(Querist) 20 September 2014
This query is : Resolved
I SOLD AN APARTMENT IN GHAZIABAD TO MY FRIEND WITH EXECUTION OF REGISTERED SALE DEED DONE 4 YRS BACK.
BUT I HAD AVAILED HOUSING LOAN FOR THAT PROPERTY. MY FRIEND TOLD THAT HE WILL PAY THAT LOAN TO BANK, SO HE GAVE ME BALANCE AMOUNT AFTER DEDUCTING OUTSTANDING LOAN AMOUNT.
AFTER 2 DAYS OF EXECUTION OF THAT SALE DEED, WE EVEN GO TO A NOTARY IN DELHI TO EXECUTE A DEED OF AGREEMENT WHEREIN IT IS WRITTEN THAT "MY FRIEND WILL PAY ALL LOAN TO THE BANK AND NOT SELL IT TO ANYONE BEFORE PAYING ALL DUES TO BANK."
NOW MY FRIEND IS BLACKMAILING ME AND SAYING THAT THAT NOTARISED DEED IS FAKE.
HOW CAN HE CHALLENGE THAT NOTARISED DOCUMENT?
ABDUL RAZIQUE
(Expert) 20 September 2014
He can not be challenged the deed of agreement if both party appear before the NOTARY officer and sign in present of him.
for more information you read care fully the below lines.
The notarization doesn’t make the agreement more legal than it was without the notary stamp and signature.
A notary can administer an oath and when you swear that oath to a notary, it has the same meaning as when you take an oath in court. This means that you can be found guilty of perjury if you lie under the oath administered by a notary, just like you can be found guilty of perjury if you lie in court.
This notarization says that the person who signed the document is either personally known by the notary, or they have provided valid identification that says they are the person who signed the document.
Any agreement between two people can be considered legally If they have a written agreement that has been signed by all parties, that agreement should be able to be upheld in a court of law, whether the signatures are notarized or not.
rajesh kumar
(Querist) 20 September 2014
But that Notary has not kept any copy that that agreement.
Buyer of my property says that it is fake and he has not signed it ever and says his signatures are very simple, can be imitated by anyone.
Now, Bank says in sale deed, i have mentioned that there is no loan over this property. Bank says it is fraud on my part to that Bank as i was not allowed to sale before clearing all dues.
Anirudh
(Expert) 20 September 2014
Your whole transaction is not clear to me. First clarify the following:
1. When the property is under mortgage with the bank, which gave you home loan, how can you sell the property to another person?
2, Who is having the original of the Agreement signed by you and your friend in which he has agreed to pay the balance amount to Bank?
3. What is the amount of consideration shown in the Sale Deed executed by you?
4. What is the Circle Rate prevailing when you registered the Sale Deed?
5. How did you give the original document of the property to him (was not the original document lying with the Bank)?
6. When did your friend stop paying the EMI to the bank?
7. Did bank gave any notice to you?
8. Otherwise, how did you come to know that your friend has stopped paying to the bank?
rajesh kumar
(Querist) 20 September 2014
1. I took loan but instead of repaying it i sold that flat to one of my friend thru sale deed. He said he will be responsible for o/s loan of bank. I sold it @ 20 lacs but he did not give me o/s loan of 11 lacs.
2. Original Notarised deed that was executed 2 days after registered sale deed is with me.
3. I sold it to my friend @ 20 lacs. He paid 1 lakh by DD and balance 8 lakh cash as 11 lakh he said will pay to Bank.
4. 20 lakhs
5. Still original document are with bank. he is having only last sale deed.
6. Till now he was regularly paying EMI of 20,000 pm to Bank. Still 10 lakh is peding.
7. Bank is informed me that my friend has complained against me that i sold that flat to him and he was not aware of the the loan on date of sale deed. And no mutual Agreement was executed by us.
8. Bank is pressuring me to pay all o/s soon.
ABDUL RAZIQUE
(Expert) 20 September 2014
if you hidden any fact and suppress any fact it is you guilty and you will be liable for the same.
rajesh kumar
(Querist) 20 September 2014
But what about that Agreement of Deed duly notarised after 2 days of that sale deed.
Has not this notarised agreement any validity?
Rajendra K Goyal
(Expert) 20 September 2014
You have done wrong, you should sell the property which you have already mortgaged.
If your friend does not agree on the transaction, pay back his money and cancel the said agreement in writing from both sides.
V R SHROFF
(Expert) 20 September 2014
WELL EXPLAINED BY SHRI ABDUL JI.
You have no right to sell property mortgaged with bank, and obtained LOAN ON IT.
YOU ARE CHEATING BANK TOO.
IN WHOSE POSSESSION THE PROPERTY NOW??
BANK WILL RECOVER MONEY FROM YOU OR SELL / AUCTION THE PROPERTY.
V R SHROFF
(Expert) 20 September 2014
REPLY SHRI ANIRUDH'S QUESTIONS. IT IS VITAL ...
BAALASUBRAMANNYAMM
(Expert) 20 September 2014
your case is mainly depending on the nature of Bank Loan. If you have availed bank loan under the strength of Mortgage, you should have to handover your original sale deed to the bank and register a Mortgage Deed in their favour. If a registered document is executed, there is no question of re-sale to your friend by executing a registered sale deed in his favour.
Next: If you availed a loan from Bank( not mortgage loan), it is your duty to clear off the said loan.In such a circumstance, dont call that it is a mortgage loan.
Next: The so called Notary Agreement can not be stand before law, in case if your friend defends.
ajay sethi
(Expert) 20 September 2014
answer queries raised by MR Anirudh
Guest
(Expert) 20 September 2014
Your Friend is trying to be smart with you.You send a letter thro your advocate asking him to settle the loan amount failing which the Property would be attached by the bank and you would not be responsible for the same.
rajesh kumar
(Querist) 21 September 2014
Dear Experts, I do agree that i have hidden facts as per law on date of Sale Deed. But just after two days we entered into an agreement wherein it is written that even the loan is in my name, i am not responsible to pay it.
Actually it was a mutual friendly deal.
nothing hidden from my friend. he was well aware of the o/s loan but he said he will pay it thru emi.
Pl guide me "WHETHER I CAN USE THAT DEED OF AGREEMENT WHICH IS NOTARISED" in legal proceedings.
As my friend has given in legal notice that No such Notarised Agreement was ever executed.
ABDUL RAZIQUE
(Expert) 21 September 2014
Mr. R Kumar
As per sale deed you are accused in the eye of law.
About the validity of notarised agreement i have earlier discussed about it.
Nothing more to Add.
Contact local lawyer.
