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sam (self)     17 April 2010

regarding sale agreement

Hi,

 i entered   I made a sale of non registered agreement of property worth

> 37 lakhs  as advance amount
> in a 50.rs stamp paper.     But the real estate price boomed and now i
> dont want the sale agreement to get executed and i was willing to return
> back the advance amount.But the buyer is not willing to accept that and he
> is going to file a suite against me to get the agreement executed. kindly
> give me advice on this matter.
SAM



Learning

 3 Replies

Gundlapallis (Advocate)     17 April 2010

Unregistered agreement will not give any actionable claim in case of immovable properties.  Through court he can only get back money from you he cannot force your to sell.  You can give him back his money and take back the paper. 

N RAMESH. (Advocate Chennai. Formerly Civil Judge. Mobile.09444261613)     18 April 2010

Agreement of sale need not be registered.

Unregistered agreement for sale is perfectly valid and the buyer has right to enforce the agreement by filing a suit for specific performance. Performance of contract is rule and return of advance amount is exception.

File a caveat before concerned court to protect you from interim orders.

pawan kumar (-)     16 June 2011

what is life of caveat and what does it cost


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