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shalini   26 November 2015

Land sales settlement doubts

Hi,

i am selling my land in mambakkam for 40 lakhs.the seller told me he will give 25 lakhs at the time of registration and post the registration remaining 15 lakhs cheque( cheque can be cashed out within 45 days of registration).he also added he would sign a stamp paper stating will give 15 lakhs after registration.

please advice on this issue

1) i have doubt in buyer.As far as i know registration happens only after full settlement.right?

2) what will i do if cheque bounces? i dont have anybody support.

3) He is asking me to submit original documents and all land related things at the time of registration.

4) he states in the stamp paper as if he borrowed money worth 15 lakhs not mentioning sales.so i feel like he is registering my land for 25 lakhs? wat should i do?

note- i want to sell the land immediately.i am in need of cash.

please lawyers suggest me ideas wat to do and wat not to do?

Thanks,



Learning

 4 Replies

Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India)     26 November 2015

Mam,

 

How much is the circle rate of the property? because I feel the buyer only want to pay the white money and get rid of the money apart from the registration amount. 

On a precautionary side take the undertaking from the buyer mentiniong all the amounts as clear as possible and take his sigantures in the presence of the reliable witnesses.

 

Warm Regards

Kapil Chandna Advocate

9899011450

Markandeya raju   26 November 2015

Don't sell the property to him. Seems to be a habitual litigant and at the time of registration the mro will ask if u have received the total amount. Hand loan is just a cause. What I think coz I have seen many cases of this sought. Imply conditions or mortgage any property if the remaining amount is written as handloan

Markandeya raju   26 November 2015

Don't sell the property to him. Seems to be a habitual litigant and at the time of registration the mro will ask if u have received the total amount. Hand loan is just a cause. What I think coz I have seen many cases of this sought. Imply conditions or mortgage any property if the remaining amount is written as handloan

Subash M R (Advocate)     27 November 2015

1)Yes.But in your case full and final settlement will only take place after the registration,if you agree to sale.

2)You ca take action against the buyer legally.

3)But on one condition that original sale deed (which you are going to execute) would be remained with you till the date of full and final settlement.(It is also risky to an certain extent) 

4) Rs.25 Lakhs may be the guideline value,so no compulsion to get it registered for Rs.40 Lakhs.But insist him to put actual facts on the stamp paper.

Thanking you,    


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