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jayshree (Inspector)     26 July 2012

Agreement to sale _possession dispute

Myself, Jayshri from Pune, i am in purchase department and our company plan to buy flat  but onwer has loan amount Rs 30 lakh due with Axix bank, so we decided to go for AGREEMENT TO SALE, our legal advisor wants to add clause "The Agreement has to state the fact of actual and constructive possession already given on the day of agreement to sale"(As we afraid that if we paid loan due amount to seller and what if he do make/ or keep hang the  final sales deed).but now agent and owner do not agree to add such point in agreement to sale untill final sales deed.rather they want to add"

  1. Since the ASSIGNEE/ TRANSFEREE has already paid Rs. 00,000/- as part/ earnest payment out of total consideration of Rs. 00,000/-, therefore the ASSIGNOR/ TRANSFEROR agrees in-principal possession of ASSIGNEE/ TRANSFEREE over the said flat premises however actual, physical & constructive possession along with set of keys & original documents of the said flat premises will be handed over to the ASSIGNEE/ TRANSFEREE at the time of "Deed of Assignment & Transfer" after receiving the total consideration in full.

Both of party firm on their  opnian and deadlock since last two days, now we seek opinain from this valuable forum so that i can break deadlock and go ahed for deal.

Please advise me your valauble suggestions.

Thanking you



 1 Replies

Adv. K.S.A.Narasimha Rao (legalquestadvisor@gmail.com )     30 July 2012

Dear Jayshree,

No Owner agrees to give  symbolic or physical possession of the property until and unless there is an  execution of Sale Deed.

As there is existing loan against the property, you have to take an undertaking from the Banker as well as from the owner that land owner will execute the sale Deed in favour of your company and you will undertake to repay the Bank loan on behalf of the landowner simultaneously the land owner will execute and register sale deed in your favour and Banker will handover the original title deeds along with link documents of the proeprty of the present owner to you.

If you require more clarity, call me after 3 pm

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