Format of Agreement for Sale
Vendor is selling the house property to the vendee . The vendee in the draft agreement for sale has included a clause that on the vendee paying the full consideration amount the property has to be Registered in his (vendee’s) name or in the name of the person he designates or nominates. I feel this will attract the provisions of Prohibition of Benami Property Transactions Act, 1988. Section 3 of the 2016 amendment) and confiscation of the property is possible without compensation. (PART A)
The Bankers use the standard format (for the Agreement for Sale) that includes this clause for the contingency of the vendee’s (purchaser of the property) incapacitation – may be sudden illness, death, unexpected inability to sign the Registration (having paid the consideration in full).
To meet this contingency, the Force majeure clause - “ inability to endorse the SALE DEED due to reasons, beyond his (Vendor and or Vendees) control, such as, happening of or occurrence of events (ACTS OF GOD), Flood, Earth Quake, Fire, Terrorism, Law and Order situation etc and also the physical and or mental incapacitation of the Vendor and or Vendee will rescind the agreement ab initio “,. can be part of the SALE AGREEMENT.. (PART B)
What I mean to say that in the general format of Agreement for Sale , Part A mentioned above may be removed and Part B mentioned above can be included.
I seek the advice of legal pundits before I proceed with the Agreement for Sale.
A.Dear Sir
If he is not cooperating with you then better to cancel the contract otherwise you will have to face problem in future .
If my above answer is helpful to you then please give me RANK FIVE {5}
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Agreement for Sale of house property
Work from home scam
