Legal Question in Real Estate Law in India

Dear Sir, I shaik Anwar Basha.

I sale my land and they are going to give me 1/4 th amount and going to make register documents.

For remaiing balance of Rs.4,50,000/- they are going to give me Bank checks post dated

(3 onths). So what you suggest me. Checks are enough for my money as a security and how much amount can I put in one check maximum.

Please sir give me good suggetion.

Thanks,

Anwar from Andhra Pradesh.India.


Asked on 6/20/11, 6:02 am

2 Answers from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

Cheques are never a good idea in property transactions . You can ask them to give you pay order instead.

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Answered on 6/20/11, 4:03 pm
Shrichand Nahar S.V.Nahar, Advocate

In case you are doing an agreement without possession now and a sale deed later upon receipt of entire consideration and providing strict payment terms and consequences then only you may have some safety.

As far as possible, consider entire payment by Demand Draft against sale deed.

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Answered on 6/20/11, 11:48 pm


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