LCI Learning
Master the Art of Contract Drafting & Corporate Legal Work with Adv Navodit Mehra. Register Now!

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Ashish   22 September 2016

Property sale with post dated cheques

I have a large property which I am selling. Buyer has offered the following terms - 1) 25 % payment on Visar (Agreement to Sale) 2) 15 % payment on registration & possession 3) 30 % payment as Post Dated Cheque after 3 months 4) 30 % payment as Post Dated Cheque after 3 months Should I agree to above. Are there any pitfalls or legal problems that I may face if the PDC is bounced? What things should I be careful about?


 3 Replies

adv.bharat @ PUNE (Lawyer)     22 September 2016

Ashish if u draft that agreement carefully then u need not worry about it.

Generally the payment is made in installment for any deal where draft of agreement must be drafted by expert to avoid the consequences of law.

If u like my suggestion then give THANK on my profile.

Kumar Doab (FIN)     22 September 2016

100% payment before registration and possession is suggested.

Rest discuss with your own counsel.

Nitish Banka (lawyer)     22 September 2016

what if the post dated cheques bounces, you will be spending years of litigation and would loose the possession of the property. Therefore 100% payment at possession is advisable.

Warm Regards,

Nitish Banka

9891549997


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register