Hi, I have a property in Delhi which I agree to sell last week. Now without signing any agreement as of now, the potential buyer gave me Rs.1 lakh as token money and now demanding the Xerox copies (Marked Crossed) of the property as he wants to make a Bayana. I want to know is it legally right to handover the documents or should I refuse and tell him that until Bayana is signed and we get atleast (10%) of the total sum as insurance, we won't be handing over anything to him ? Please guide me through this process.
A.dear client in your matter Sell of the property through registered sale agreement. Ask the purchaser to to prepare a sale deed and get that registered after payment of agreed amount.
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Mohit Sharma
Responded 6 years ago
A.As far the Xerox copies are concerned there will not be any problem but making the Marked Crossed may be. So it is advisable to have a Bayana singed and get at least 10% or whichever amount is mentioned in such Bayana.
A.Dear Sir,
Handing over xerox copies after payment of Rs.one lakh is reasonable. He cannot do anything.
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NILANJAN CHATTERJEE
Responded 6 years ago
A.Sell of the property through registered sale agreement. Ask the purchaser to to prepare a sale deed and get that registered after payment of agreed amount.
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Nirmal Chopra
Responded 6 years ago
A.There is no hard and fast rule for such transactions. But generally it is safe to enter into a written agreement and get it registered which can be done after you receive 10% or such higher amount as agreed and after receiving such amount to get agreement registered. Only at the time of registration of the agreement, copies of the property documents should be handed over.A non-registered agreement will not give any right to parties to get transaction completed if a dispute arises though generally most of the sale deeds are registered without agreement being registered.
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Ambrose Leo
Responded 6 years ago
A.You have a complicated & sensitive issue better to take advice & help from a professional property lawyer in your jurisdiction quickly to solve the issue.
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