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Kumar (Lawyer)     10 September 2010

sale agreement executed by power agent

I have executed a GPA to a person. He has got an advance and executed a registered sale agreement with a buyer with two year validity. I am not interested with that buyer and I have cancelled the GPA. Please tell me the fate of the registered sale agreement executed by my agent. Now I want to sell this property to a new buyer for attractive cost.



Learning

 4 Replies

A V Vishal (Advocate)     10 September 2010

Since the Sale deed was executed prior to cancellation of the GPA, it is valid deed, further you have undertaken to ratify the agent's actions in the GPA

Arvind Singh Chauhan (advocate)     10 September 2010

I do go with Vishal Sir.

suresh (Advocates and Arbitrators)     10 September 2010

Dear Friend,

                 The will come under "Bonafide Purchaser" Please refer Section 41 Synopsis 5 of Transfer of Property Act 1882.

regards and thanks

suresh, Advocate.

 

Vinoba (Advocate)     10 September 2010

Hello,

You have cancelled the Power of Attorney only after your agent has executed a sale agreement on receipt of the advance towards sale consideration.  It appears from your query that the period for performance is two years.  Therefore you can either go by the sale agreement and execute a sale deed in favour of the agreement holder or can seek cancellation of the sale agreement.  The former is better option than the latter which can be done only on valid grounds.

L. Vinoba

Advocate


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