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Krishan Attre (Engineer)     08 June 2011

Buying property against post dated cheque

Can I buy property (residential) and give out Post dated cheque for the sale consideration if the seller agrees and get the house registration done in my name? I plan to complete the loan (by honoring the PDCs) in 2-3 years time frame. Is this legal and any issues in this with regards to taxation etc?

Regards,

Krishan



 4 Replies

Doveson (advocate)     08 June 2011

not at all. if the seller agrees, then no impediment.

1 Like

Bharatkumar (ADVOCATE )     09 June 2011

not at all, If Seller is agree with u, u both r registered the sale deed in Registrar Office and note a pdc checque details and conditon in sale deed. 

Sajid (Auditor)     09 June 2011

If Seller agrees to sell the property on credit to you against the PDC, then you go for the Sale Deed Registration.

In the Sale Deed,  you must mention the Bank name, PDC Cheque Numbers and the dates. After the payment of all the dues. You must get the Vouchers of payment , date wise, and MOU  for the clearance of the payment from the seller.
 

bhagwat patil (Property due diligence 9422773303)     11 June 2011

You must mention the Bank name, PDC Cheque Numbers and the dates.If any one of PDC dishonoured there chances of cancellation of saledeed.

1 Like

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