Receipt for sale of land

Querist : Anonymous (Querist) 21 May 2010 This query is : Resolved
Token Receipt

I ____________ S/o___________ R/o________________ (Seller) have received Rs.___________ (Rs._______________________________) on ____________ at ____________ as token amount from ____________________________________________________ (Purchaser) for sale of my land bearing no.________________________________________________________ situated in the revenue estate of Vill. ____________________ Tehsil ______________, Distt. _____________________.

The purchaser shall perform the obligation of his part, to execute the sale deed on or before _______________. If the purchaser fails to get execute sale deed in his/his nominee’s favour on or before __________, then the token amount shall be forfeited and the Seller shall be under no liability towards the Purchaser under this receipt and the Seller shall have full right to use & enjoy his property as he deems fit. The purchaser is agree with this term and also signs the confirmation of this condition and token receipt, hereunder.

Witnesses
Seller
1.

2. Confirmation of Token by Purchaser

Respected experts my question relates to the above draft of reciept. If the purchaser delays in execution of sale deed, will the seller shall be under any type of liability under this reciept. or he can sell his property to anyone else, witout any legal hurdle from the purchaser side. Is this a valid draft for reciept or its some thing else, Pls Ssuggest

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Raj Kumar Makkad (Expert) 21 May 2010
Mere receipt is not sufficient rather a full fledged agreement should be executed between the parties.

If only receipt, the draft of which has been given in query, has been signed then the seller has to submit a notice to the purchaser to come for the registration of sale-deed failing which the forfeiture of advance amount as per clause of receipt.

bhagwat patil (Expert) 24 May 2010
It SHOULD BE REGISTERED WITH AROIATE STAMP DUTY AND REGIGISTRATION FEES.

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