AMIT VERMA (PHARMACY) 26 August 2014

Lending 12 lakhs to real estatte

Hi I am Amit i need advise with regards to give money to one of Real estate for registration of a plot of land as they are broker and we have deal that when i give money of sum of Rs 12 lakhs in advance out of 18laks then they will arrange for registration for me with the actual owner Basically this real estate bought a big piece of land from some one and they are selling in plots to few individuals instalments, but they are asking me to give advance of sum of rs 12 lakhs well i will use stamp paper and will them by cheque, i have done the searching of land and found everything ok but i just need any more legal document can be done before i pay them by cheque thanks Amit

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4 Replies

Dr J C Vashista (Advocate) 26 August 2014

Vague and commercial query, engage a local lawyer.

Arpit lalan (Legal Consultancy/Advocate) 27 August 2014

you are confused in asking/seeking answers. please frame it in Q and A format. please also mention all details

Biswanath Roy (Advocate) 28 August 2014

Advance payment against valuable consideration does not create any title over the property so you shall have to enter in an agreement with the Vendor for this deal so that if any untoward incident happens or dispute occurs or arises you can claim title of the property by filing suit for specific performance.

T. Kalaiselvan, Advocate (Advocate) 30 August 2014

As suggested, it is always better to enter into a sale agreement towards purchase of land and get it registered or else, you will stand to lose you investment when the so called broker/vendor raises his hands and draws a blank for the money received by him. An amount of Rs. 12 lakhs is not a small amount, about other documents in this regard, you may apprise a local advocate about the situations and take his opinion before leaping forward.