Legal Question in Real Estate Law in India
Sir,I had sale my property he is asking for transfer with register office ageist his post dated cheques of agriment value. Opposite party will pay by bank loan with in 30 days. If he fail to pay amount can I get cancel with registration office or if he get loan but he will not pay in 1 month because loan will disburse on his company's name because loan will be ageist property not housing loan.Is it clear deal or not please guide me.
2 Answers from Attorneys
Unless you get your consideration in full and final, you should not go for registration.
Adv Rajiv
04.09.2013
Dear Sir / Madam,
Banks have a pre-sanctioned loan policy so it does not take time for loan disbursement. You should go in for registration only after you receive the entire purchase consideration, else cancel the deal, and return the money to the prospective buyer, if he disagrees to wait.
Regards,
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