property agreement break after last date
shashank
(Querist) 05 August 2010
This query is : Resolved
My father has made an agreement of selling a property with a party with a small token amount showing a spacific last date for registration which is due to come, but there is nothing written about break up of the deal. Now if we wait for the last date to pass by without registration then after that date, would the agreement break automatically or there are some legal proceedings needed for the same?
arunprakaash.m.
(Expert) 05 August 2010
The purchaser has three years limitation to enforce this agreement.
You send immediately legal notice for the registration of the property.
If the time is essence of the contract then you have safer side it is not so then........................................
Devajyoti Barman
(Expert) 05 August 2010
The agreement does not looses its enforceability immediately after the stipulated time unless you both made it clear that time for completion of sale is essence of the contract. Still, it would be better if you send a notice of cancellation explaining the reasons behind it.
