I want to purchase a open land property of my friend.
1. My friend has done registered aggrement to sale with owner of the open land property.
2. My friend has paid 100% full amount to the owner.
3. My friend has done a got "NOTARISED" "power of attonerney" for that open land property from the owner to make resale, take bank loan, construct house on the land.
I am doing aggrement with my friend so I can purchase half of the land property, which will happen at the same time when he is doing sale deed after 4 months from now.
I am giving a 30% amount by cheque as token amount will be mentioned in MY aggrement which I am planning to do in next week or so.
My friend has assured me that land is litigation free & no issues, which I will be also confirming once aggrement is done.
Please guide & tell me what all necessary precausions I need to take in this transaction.
Also tell me is there any need to have owner while having aggrement, as my friend has power of attorney for the same.
