In Hyderabad in Late October 2022 ,I entered sale agreement for purchase of a plot through GPA holder ( he is plot owner's father)as the plot owner located Overseas . Paid nearly 30 Percent of the value through RTGS and mentioned 60 days time period for registration of the plot .Later it came to my notice that a person X had claim on the total layout where the plot was located . The dispute arose between X and another person who developed the layout .The person X filed OS Civil Suit in 2013 making the person who developed the layout as Defendant 1. Hence the total layout was placed in prohibited list in the sub registrar office .But this person X will negotiate for money with the prospective plot buyers and shall agree to file a compromise memo and once compromise memo issued by Court , the sub registrar is able to do the registration .
The owner didnot let me know about this issue in October 2022 while entering the agreement ,dragged the issue till May 2023 ,took another 25 Lakhs through RTGS promising that he would negotiate with X and get the compromise decree from the court .Until now he doesn't .I can surely seek legal recourse but I donot want for the obvious reason of delays during the case trial .
I would rather sell the plot and retrieve my heldup amounts .My question is what could be the ideal scenario for me to sell the plot to any prospective buyer ,ofcourse I would be telling them about the claims of person X.
If some one is interested to buy , what kind of document or agreement can we execute ?
Does an MOU serve the purpose ? Any other way out ?
Please advise
Thankyou
Pravin
