Legal Question in Real Estate Law in India

hi sir. I gave an amount of 25 lakhs to my friend who is a builder and now since he can't repay he asked to take a registered power sale deed of a flat which is worth around 35 lakh for safety purpose and he said he will sell that flats soon and give my money back. Sir please advice me is that power sale deed is valid and if so till when it is valid. also advice me is that a safety way for recovering my amount. also advice me is that power sale deed can be cancelled by that builder without my knowledge.


Asked on 8/29/16, 4:37 am

1 Answer from Attorneys
Santosh Goswami,Advocate sure shot legal

See, you may keep the sale deed as mortgage but still you can not sell that. So, apart from that also execute a renewed agreement stipulating the time frame within which he has to pay the sum and add an interest clause. Sale deed can not be cancelled.

9555462995

Read more
Answered on 8/29/16, 9:46 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India