Spa
Querist :
Anonymous
(Querist) 18 January 2012
This query is : Resolved
SIR(S),
A PERSON HAS EXECUTED THE SPA IN FAVOUR OF THE NOMINEE OF THE PURCHASER FOR SELLING / TRANSFERING THE PROPERTY ON HIS BEHALF , AFTER TAKING FULL CONSIDERATION . IN THE SPA IT HAS BEEN MENTION THAT THE SPA IS IRREVOCABLE . THE SPA IS REGISTERED . CAN THE EXECUTOR REVOKE THE SPA IN FUTURE
Devajyoti Barman
(Expert) 18 January 2012
Yes if the SPA is not for interest of the Agent then it can certainly be revoked.
Advocate. Arunagiri
(Expert) 18 January 2012
Any POA can be revoked, if there is no consideration is paid.
Raj Kumar Makkad
(Expert) 18 January 2012
Even though consideration has been paid in your case even then SPA is not a matter of faith now in the light of recent citation of SC. It is not better to take risk and get registered the sale agreement.
Querist :
Anonymous
(Querist) 19 January 2012
sir(s) ,
i am more confused now . one respected expert has stated that spa can be revoked if it is not in the interest of agent . the other has stated that spa can revoked if no consideration has been paid . respected makkar ji has advised to get the sale agreement registered . but from whom should i get the sale agreement registered from original owner or spa holder . i apprehend that original owner now my not come up for execution of transfer documents .
further i have paid the consideration . the spa is definitely for / in the interest of the agent .
now my specific query is will the transfer documents executed by the spa holder in favour of the purchaser or some third party be legally valid .
secondly can the executor revoke the spa in my case .
thanks with regards .
Deepak Nair
(Expert) 19 January 2012
If the SPA is duly registered, then the SPA holder is authorised to transfer the land to any third party. The said transfer is as good as the transfer by the original owner/principal.
Please note that it is a Special Power of Attorney which is specifically issued with respect to the transfer of land to the third party. Once the land is transfered, the principal owner loses his interest/right in the land and the SPA too becomes ineffective as the purpose of issuing the SPA is complete.
Therefore, the transfer documents executed by the attorney on behalf of the owner is valid.
Even if the SPA is revoked after transfer of the land, the transfer will not be affected by the said revocation, as the principal is obliged to ratify all deeds done by the attorney begfore revocation. The transfer cannot be challenged on the basis of revocation which is done after transfer of property.
Advocate. Arunagiri
(Expert) 19 January 2012
In addition to my previous opinion, you can add, the SPA if it is related to a immovable property, it ought to be registered.
So, if the SPA (registered) is irrevocable, if the consideration is paid.
The purchase from the SPA is very much valid.
