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Author Topic: Sale of land - Urgent Query  (Read 545 times)

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Offline sahas83

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Sale of land - Urgent Query
« on: February 18, 2017, 11:49:40 AM »
Hi All,

Our family owns a land which is located in chennai. The land, which is 1 ground in total, is jointly in my father, mother and my name respectively.

Recently we have found a buyer who is a builder who is willing to purchase the land from us for a specific amount. Please advise in the below questions of mine.

a) Buyer is forcing us to give POA to him from time to time. My father keeps declining him every time. We are not giving POA.
b) Buyer asked us to visit the registrar office last week to sign the Agreement of Sale. After reading through it, we noticed that, there was no duration or tenure mentioned in it. When we questioned about this to the buyer, he said he did not mention it as he has to pay 1% of the total sale amount. However, it  did mention, a 1% amount is being paid as advance. The seller also gave us a DD for the specified amount.  Luckily, we did not carry original documents and the sub registrar put the registration  in pending ( after taking our photo, signature, fingerprint etc ) She asked us to show original ID, original land documents next week and then she will register the agreement.

Now my question is, is it safe to execute a sale agreement without tenurity/expiry? Is the 1% fee a scam or is there a rule like that? Can we ask the buyer to give is 3 cheques of total land sale agreed amount before registering the agreement?

Please advice. My father is very old senior citizen and i am a total novice.

Appreciate your valuable advice.

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