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bayana not registered


Hello sir....we have made an agreement on a 2000 stamp paper with another party for buying a agriculture land of 1 acre(not attested by notary public)....it costs around 42 lacs per acre according to the govt rate...but market rate is around 1 crore at present....at the time of agreement we have paid around 20 lacs....and the remaining amount will have to be paid at the time of registration....at the time of agreement there was no loan on the property... but they took loan on the property after the agreement without any consultation with us.....now as the time of registration reach very near....they are telling us they are not ready to do registration may be because of the escalated price in the mean time...now we are in so much tension that what would we do...should we proceed to any lawyer before the deed date or we should wait till registration date...?
 
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FIN

Take back your money and buy peace of mind.

 
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Advocate

You have the following option:-

1. To get issued notice asking the sellers for execution of sale deed and if they donot comply then file suit for specific performance of agreement to sell ,

2. To issue notice and demand back the paid part consideration along with interest and if sellers do not comply with the notice then file suit for recovery along with cost and interest.

In the light of given facts, option first is the best remedy. At the time of subsequent charge created by seller is malafide and the liability vest with seller alone.

In case of need consult with details.

 
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FIN

You do have the above mentioned options,,,

 
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Advocate/Attorney

Since you are telling that they have taken loan, it might be through registered mortgage only.  The registered document will have conclusive rights. Whereas the Agreement of sale will have limited rights only. Hence, the registered document will be given top priority. You have only one option to recover the money whatever you paid. However you can ask for interests, damages and legal expenss along with Consideration amount.  

 
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FIN

It is always wise to get Principle first............and agitate for everything else later...

 
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