Validity Period Of Sale Agreement
Written by Staff on December 19, 2020
“Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act).” On 31 October 2020, a 40-year-old man was arrested by Noida police for deceiving a bank of 2 Crores by forging debt and using loans. On the same day, the judge of the main meetings of Madurai, G Ilangovan, granted two sub-registries arrested by the Sanddigul Criminal Police Office, an early bail, on charges of recording documents without prior verification. According to the police, they registered the deed of sale without checking the certificate of charge, as well as the original documents, parental documents, death certificate, etc. Finally, it should be noted that, in the above decision, Hon`ble Bench referred only to the legal situation, namely that sa/GPA/WILL transactions are not transfers or sales and that this transaction cannot be considered a sale or promotion concluded. But they can still be treated as an existing purchase agreement. There is nothing to prevent those affected from obtaining registered promotional titles to complete their title. This absolute rule is subject to the exception of Section 53A of the Transfer of Ownership Act. Section 53A provides that the seller has no right to disturb the purchaser`s possession if the purchaser has entered into possession of the property that is the subject of the transfer, while fully acquiring its portion of the contractual obligation. It should be noted that Section 53A provides the proposed purchaser with a shield against the seller and prevents the seller from disrupting the purchaser`s property, but it does not cured the buyer`s property. The property`s ownership remains in the hands of the seller.
Documents brought to the nonexistence to help buyers, people began to abuse these documents to trick people that it creates titles on the property. That is why many cases had been brought before the court. It should be noted that in many cases there is a long chain of sales agreements, GPA and WILL, just to create confusion for the buyer and conceal the principal owner of the property. 5) You can pay a legal mention for the termination of the contract on the buyer`s failure to pay the balance and refund Rs 1 Lakh. If these conditions are met, the buyer acquires the full right to the property, even without reservation of contract or ownership, and the seller cannot assert any rights other than those expressly mentioned in the contract.