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Ajeet Singh.   21 August 2020

Related to property sell

Hi,

Scenario-1

I sold my flat in March 2020.and registration process also done in March and and after march 2 months bank has closed due to covid 19.
after 45 days banks and housing loan dep. got resume in the month of june. today is 21/8/20 but my payment didn't cleared.

Que:- what should I do.

Scenario-2

Buyer is process very slow why i don't know after 2 months bank found 1 mistake in index 2.narration is just opposite between buyer and seller. so how many days will take to correction in index 2 because almost 1 month has done. and buyer is giving excuse on excuse.

what should I do.

kindly assist me in proper legal way that what I can do in case.

thanks


Learning

 6 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     21 August 2020

You said that just opposite between buyer and seller. But it is a big mistake.  so you and buyer shall register a rectification deed before the Sub Registrar concerned. settle the issue in amicable way with the buyer.

1 Like

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     22 August 2020

How Did you registered the property without Getting the sale consideration to you.

Before Rectification of Mistakes Get the amount Due from the bank. If the Rectification is done the buyer may not cooperate in getting the sale consideration from the bank.

Also The rectification deed is the Headache of the Buyer. Focus on  Getting your sale consideration first.

1 Like

Dr J C Vashista (Advocate)     22 August 2020

Facts posted in either of the circumstance (Scenario 1 or 2) are vague and ambigous.

Redraft facts of the query, if any, with some clarity to avoid presumption and assumptions. 

Advocate Bhartesh goyal (advocate)     22 August 2020

First try to get your due sale consideration form bank /buyer else after having executed rectification deed ,it will be difficult to you to get the due amount.

Atul Saxena   22 August 2020

First thing you need to do serve a notice to the purchaser mentioning your financial loss , Further go for rectification deeds immediately with sub registrar and submit original rectification deeds immediately with buyers financial institutions.
Also refer payment clause in order to recovery your consideration .
I believe due date must be over, As per the clause ask interest or penalties for purchaser.

P. Venu (Advocate)     23 August 2020

Yes, the facts posted lack clarity. What is the relevance of the twp scenarios? Is this a real-time query? Also, please note that  no where in the country, banks were closed for two months. 

What is your status in the transaction- buyer or seller?


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