Legal Question in Real Estate Law in India

I have a cousin in USA.He transferred me 6.94 lakhs to my a/c to buy land.I have made a DD for the said amount and transferred it to the seller.But in the deed/document the actual amount was not shown.As he was not present during the transaction my thumb impression was placed on his photograph.He transferred the amount on the condition that I should pay Rs.4400/- p.m as interest.I have credited 3 months interest.One month payment is pending.I have agreed upon that agreement.All our communication were through e-mail.Now he suspects me some cheating was done in this deal.Kindly advice

Asked on 1/20/13, 4:47 am

3 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP

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20.01.2013

Dear Sir / Madam, (Mananthavady, Vayanad, Thelassery)

First and foremost, how can an Agreement for Sale be made without mention of any price consideration ? Your first lapse, whether deliberate or unintentional lies here. If your cousin is not present in India, he ought to have executed a Power of Attorney in your favour authorizing you to act on his behalf. Your second lapse is affixing your thumb impression on his photograph. Anyway, to clear any doubts between you and your cousin, you can mail your cousin a scanned copy of the DD made by you in favour of the seller and the money receipt from the seller.

And when the property has been acquired by you in the name of your cousin, where is the question of you paying your cousin interest on the amount ? Because that would tantamount to you having taken a loan from your cousin to purchase the land for yourself.

Is it that you both have agreed in writing to transfer the land title from your cousin's name to your name, as soon as the entire loan amount is repaid by you to your cousin ?

Please elaborate actual detailed facts at [email protected]

Regards,

FCA Prashant Chavan

Mumbai

Answered on 1/20/13, 7:55 am

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