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manoj (Technical recruiter)     12 August 2013

Validity of sale agreement

Hi, I'm Having 20 Acres of Agriculture land .On 2011 december I (Sale Agreement)sell my land for 55 laks.The buyer pay the 21 lacs and he stopped the payment till now (Last date of payment is March 2012)he didn't pay the remaining amount .Wot should i do now. Now the land value is 3 times high.Now the Agreement is valid or Not? Actually we are ready to give the 6 Acers Insted of 21laks? please give the solution Thanks Manoj


 3 Replies

HIRAL THAKKAR (ADVOCATE )     12 August 2013

The agreement has specific clauses in regards to non payment or otherwise. the agreement is valid. If he is ready of 6 acers you can think upon and then act.

Jayendra Sevada (Advocate)     13 August 2013

If the agreement is unregistered then it has no legal value. You will find a clause in the agreement that if the other party (Second party) doesnot pay the rest amount then the earnest money given to you will be forfeited. In any case you are free to sell your land to anyone else due to non-payment to you within the prescribed period. The law laid down by Hon'ble Supreme Court is very clear that the unregistered agreement to sell and purchase has no legal effect and Section 17 of Registration act makes it mandate to get it registered. The benefit of Section 53A of T.P.Act will also not be given to the second party.

 

Note: the above opinion is given only with reference if the agreement is unregistered.

 

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T. Kalaiselvan, Advocate (Advocate)     19 October 2013

If the sale agreement is particular about the time limit then the contract automatically stands terminated on the expiry of the stipulated time thereafter, you are freed of the obligations and conditions of the contract, which means you do not have to return the amount received as advance towards the sale consideration and also that you can proceed with the sale of the property to any third party legally, you cannot be barred from proceeding with such an encumbrance.  However, if you still feel that you are ready to admonish the purchaser for his lapse and respecting his good will you consider selling him a portion of the property as suggested, go ahead and talk to him explaining the legal implications in this and advise him to settle the issue amicably or make him understand that you are ready to face the situation before the court of law in this regard.


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