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saad ahmed   10 December 2016

suggestion about propert

I m going to sell my property for rs 1.80 cr Buyer is giving me an amount of 80lakhs and he is asking for registry , and he is giving me pdc cheque and that will be mentioned in registry , if his pdc cheque gets dishonoured , will i get back my registry on my name after i file a case in court . Point to be noted - property will be possessed by me until his cheques got clear . Please tell me if i will get back my registry on my name or not. .


Learning

 5 Replies

G.L.N. Prasad (Retired employee.)     10 December 2016

Members can not guide in personal maters related to financial transactions without knowing personal matters of buyers.  The caution is Money is bad, and nothing can be ommitted or sacrifised while investment is concerned, as any lilberal or belief or trust may involve you in personal complications.  What you have to do is to be decided by you and members are not competent to advise in such matters, knowing that it  may involves future complications to you.

Kumar Doab (FIN)     10 December 2016

PDC; is avoidable and may be avoided.

Rest is your own and personal decision.

 

 

Kumar Doab (FIN)     10 December 2016

Prefer to discuss with your own counsel specializing in revenue/property/civil matters and obtain legal opinion on title/ownershipEC etc etc and also on mode of payment.  

Dr J C Vashista (Advocate)     11 December 2016

Spend few lakhs of rupees out of crores you are fatching from the deal, discuss and engage a local prudent lawyer for proper analysis and guidance.

Kumar Doab (FIN)     11 December 2016

Agreed.

The legal opinion from a very able counsel specializing in revenue/proeprty/civil maters can help you.

Your counsel can draft your agreements so as to defend your long term interest.


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