Arun (Software Engineer) 18 January 2010
Good Day Everyone!!
I have been reading that a registered GPA cannot be cancelled if there is a consideration amount specified or if agent has an interest in the property. Is it possible to know from the wordings in the GPA document whether the agent has acquired interest in the property or not?
Rgds,
Arun
Y V Vishweshwar Rao (Advocate ) 18 January 2010
The GPA will acquire interest on payment of Consideration i.e;- Sale agreement - cum GPA to purchaser , the sale consideration is paid to Vendor Vendor executed Agreemtn cum GPA axcknowledged the receitp of the Sale cosnideration , the purchaser/ GPA acquired interest in the proerty for cosnideration and the said GPA can not be cancelled . It will be mentioned in the GPA that the GPA / Purchaser acquired interest in the property and Vendor /principal will under take not to cancell the GPA and declare that he l has no right to cancell the GPA !
Arun (Software Engineer) 20 January 2010
Thank you Mr. Rao.
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