Promisory note

kunhi marakkar (Querist) 07 May 2015 This query is : Resolved
Dear Sir,
I sold my sister's property on 2001.I promised to her thru a promissory note that I can buy another property for her instead of sold property.that time her property value is one and half lakh rupees.unfortunately I couldn't fulfill promise due to lack of money.if now she approach civil court to get execution of agreement, what will happen?still I don't have money.what is criteria in court to asses compensation.now poperty value is 10 lakhs

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kavksatyanarayana (Expert) 07 May 2015
@Author, how can you sale the property of your sister? Is there any POA from your sister in favour you? Without her consent in the shape of POA, you cannot sale the property. so she may file a case before the hon'ble court for fraudulent registration.

SAINATH DEVALLA (Expert) 08 May 2015
Apart from the above provide the contents of the Promissory note.Officially U cannot sell the property unless U have been officially entrusted to do so.

Rajendra K Goyal (Expert) 08 May 2015
All the documents need to be referred, consult local lawyer.

ajay sethi (Expert) 08 May 2015
you cannot sell your sister property without her consent . did she execute POA in your favour

malipeddi jaggarao (Expert) 08 May 2015
Agreed with experts. You cannot sell your sister's property. How was it possible? Come with full facts.

Sudhir Kumar, Advocate (Expert) 08 May 2015
your story is not convincing.

apparently this is fraud you have done followed by breach of trust.

T. Kalaiselvan, Advocate (Expert) 09 May 2015
Apparently the author is trying to find some solution to overcome his fraudulent activity by seeking opinions from here.

Biswanath Roy (Expert) 09 May 2015
If the matter goes to court then you shall have to pay sale value you received in the year 2001 plus interest accrued thereon which will be determined by the court otherwise you will be jailed and if you have any property the same will be charged for the liability.

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