How to secure future registration of land?
2 years ago
Hello
I am planning to buy a land of 1 acre from one of my relative. I am and the other party are agreed to do registry of same soon. I do not have any money right now and we both agreed that I have to pay full amount in a year.
Please suggest how we can ensure this legally so that we both do not have any issue in future
A.Hi,
You can draft a sale deed and state one of its terms to be payment in full by the year-end. Second, you shall have to get it attested by getting a stamp duty done.
If you find my answer helpful then kindly rate me.
You can draft a sale deed and state one of its terms to be payment in full by the year-end. Second, you shall have to get it attested by getting a stamp duty done.
If you find my answer helpful then kindly rate me.
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A.In the agreement for sale put a timeline for final payment and execution of SALE DEED and include a penalty clause stating that whosoever terminates the agreement before the expiry of the said period will pay "x" percentage of the valuation or consideration amount as penalty to the other party.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
You and the other party can make an agreement on the stamp paper. The agreement should contain the agreed terms. Then you need to get the agreement registered in the registrar's office.
If you like my answer, please rate me.
You and the other party can make an agreement on the stamp paper. The agreement should contain the agreed terms. Then you need to get the agreement registered in the registrar's office.
If you like my answer, please rate me.
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Pardeep Kumar Dhiman Dhiman
Responded 2 years ago
A.Aap dono ek agreement to sale karaye. Or usme sale deed execute karane ke liye ek fix time rakh dijiye. Vah time limit vah honi chahiye jis time aap ke pass dhan ka parbandh ho jae. And is paper ko registar office me registered kara le. Is se dono surakshit rahenge.
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Vaidehi Samant
Responded 2 years ago
A.Put the term in the Sale Agreement that if the agreed consideration is not paid in entirety before so and so date the agreement shall stand revoked/terminated. Thank you.
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If you have found the answer helpful than please provide review and give ***** as appreciation.
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