Validity of sale agreement
Siva
(Querist) 02 September 2013
This query is : Resolved
Dear Sir,
I am residing in South India (Tamilnadu) .I was entered into an unregistered sale agreement to sale my property on 22nd December 2010, as per the sale agreement the validity period is only 6 months. but he never approached for any settlement or time extension or any excuse. till he is threatening me while i have approached any new buyers to sale the property because he is one of the politician, also he said that the agreement is valid for three years from the date of execution. is it true? and what are the procedures to cancel the agreement, also i am ready to refund the initial deposited amount with interest.
Note: as per the agreement its clearly states that, if the buyer has not paid the entire sale amount within the stipulated time limit(six months) from the date of agreement, the advance amount shall be lapse.
Vijyant Nigam (09807349001)
(Expert) 03 September 2013
unregistered agreement has no legal sanctity unless the buyer had paid requisite stamp duty on the amount he gave you as advance.
it is advisable to lodge a police complaint against the buyer for the threatening and seeking police protection for yourself. if police do not lodge your complaint then you write to Senior Superintendent of Police of your city or whatever his designation may be.
do not return his money as per the agreement because you have suffered losses due to his dilatory tactics as he is trying to hold the escalation cost of your property.
with best wishes
Vijyant
Raj Kumar Makkad
(Expert) 03 September 2013
In the given facts, the buyer has no right to purchase that property as agreement has already been expired.
