Legal Question in Real Estate Law in India

we have given a liasoning job for release of land from private encroacher for which we have to pay a consideration after the release of land to the service provider by selling this land, as we are not in a position to pay the amount in cash, an agreement to this has to be executed in between both the parties to which we both agree . Now the service provider is asking that a simultaneous document such as relinquishment deed sort of be also signed for the equal share of the amont be executed as a surety so that in case the amount is not paid in time he has the substitue to recover his share of consideration by executing this deed otherwise the same willbe null&void if we pay the amount in the said time frame settled in the agreement . now my question is whether relinquishment is the proper document to be executed in this case or some other document be executed so that both the documents serves the purpose of both the parties .
please reply /guide us what is the safest document......or relinquishment can be executed against the said consideration....both the documents will run simultaneously...THANKS.

Asked on 12/24/10, 12:58 am

Shrichand Nahar S.V.Nahar, Advocate

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Relinquishment Deed may not be proper document.

Proper documents may be an agreement with a power of attorney providing in details what is to be done, when and by whom.

Answered on 6/03/11, 3:05 am

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