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Akash   10 February 2021

Delong of residential property

Hi everyone, I want to sell a residential property in delhi but I do not want to enter into agreement to sell. Can anyone guide me as to how I should proceed further also what is difference between token amount and advance against property. Can accepting token amount result in legal obligation to sell. Thanks Read more at: https://www.lawyersclubindia.com/#


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 4 Replies

Real Soul.... (LEGAL)     10 February 2021

Can accepting token amount result in legal obligation to sell-  big yes

 

G.L.N. Prasad (Retired employee.)     10 February 2021

If you do not want any litigation, as a seller you can demand cash down and registration.   It is your right.  The demand draft can be delivered by the purchaser before the Registrar during registration.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     10 February 2021

 As a precautionary measure, do not give the original property documents to a broker or any buyer. Give them the scanned copies and put a watermark on them. This will safeguard you from fraudulent buyers or brokers as they will not be able to forge the documents further.Better to have agreement to sell with token money in the form of D.D. 

Dr J C Vashista (Advocate)     14 February 2021

Acceptance of token money out of consideration amount constitute it to be a valid agreement (oral or written).

You may proceed to sell the property and exectue sale documents, there is no legal requirement for any other "Agreement to Sell" 


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