Sale deed agreement

Querist : Anonymous (Querist) 29 April 2018 This query is : Resolved
Hi , I have finalised deal for sale of my shop to buyer at 14 lakhs. Buyer is paying me 10 lakhs at time of sale deed agreement and giving cheque of remaining 4 lakhs of future date (45 days ).
Just wanted to check in case if cheque got bounce , is there any way I can get my money back. ? Can I forcw him to pay remaining 4 lakhs legally ?
Is there any other way to this transaction ?

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Ms.Usha Kapoor (Expert) 29 April 2018
You wait till 45 days for Registration till the buyer gets over his liquidity crunch in his bank.. IN the meantime buyer may get over his liquidity crunch and pay your/seller's full consideration.

R.Ramachandran (Expert) 29 April 2018
Ms. Usha Kapoor: If the buyer had liquid funds in his banks, why will he give post dated cheque? Therefore where is the question of his giving DD now?

There will be difficulty in realising the amount later. Therefore, better postpone the registration of the sale deed only when the buyer is in a position to give you the balance amount of 4 lakhs also. Why cant he wait for 45 days? What is the hurry?

Dr J C Vashista (Expert) 29 April 2018
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Kishor Mehta (Expert) 29 April 2018
It is not prudent or legally advisable to execute and conclude an agreement without receiving FULL payment of the property before execution of the agreement.

P. Venu (Expert) 29 April 2018
Execution of the conveyance could wait till the entire consideration is realized.

Asgher Mahdi (Expert) 30 April 2018
Indeed, you can proceed with transaction through cheque. In the even to cheque being bounced, then your entire transaction can be considered as void and you may file a case against him under breach of contract and various terms dictated under the agreement.It is preferable to go by Demand Draft to utter confusion. Lawfully, you cannot denounce the cheque transaction on the pretty reasons that the cheque being bounced.

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