We sold a plot being agricultural land in Mumbai by execution of a Indentue. The agricultural land was sold to 3 persons as Chief Promoters of proposed Co-operative Society. The indenture was registered in 1993. Till now the property is still standing on our names in the Registrar records. Now in 2016 after 23 years the buyer has applied for change in name of records.
My Query is :
1. What does Indenture mean? Is is a Sale Deed, Conveyance Deed or Agreement to Sale. Is it binding on the seller after 23 years
2. The Co-operative Society was a proposed Co-operative Society and not a registered Co-operative Society on the date of the Indenture, can the indenture be treated as non binding and invalid. (Referring to 64A of Bombay Tenancy And Agricultural Lands Act 1948)
3. Documents show that the buyer has resold the agricultural land to a third party can he apply for change of name as they have resold the agricultural land. Can the original sellers still contest the indenture as on today to be invalid based on question no. 2
