1) request the builder to enter into deed of rectification to mention that payment has been paid by 2 cheques by you .
2) offer to pay the legal charges . builder will definitely oblige
Hello, Plot got registered with Sale Deed containing one cheque number. But cheque got dishonored due to mistake/correction in the cheque. Later paid the entire amount by 2 cheques immediately. So is it required to do the rectification deed or getting a receipt/letter from the developer on the payment would suffice. The Sale Deed is still valid after this payment ? Any foreseeable risks ? -Manjunath
This is in Karnataka.
1) request the builder to enter into deed of rectification to mention that payment has been paid by 2 cheques by you .
2) offer to pay the legal charges . builder will definitely oblige
a written receipt from the seller acknowledging the receipt of the two cheques on his official letter head would also suffice, to be duly signed and stamped.
rectification deed can only be optional.
Rectification is optional thing. You need to get an endorsement from them and get it in a stamp paper that they received payment with endorsement number
1. Receipt collectred from the builder should suffice but not full proof,
2. The builder may create trouble after several ywears when you may not have the required bank details to prove that you subsequently issued two cheques in lieu of the bounced cheque,
3. Moreover, legally speaking, there is a mistake of cheque no. in the sale deed since the said cheque had bounced,
4. Hence, rectification deed is suggested in your interest.
1. Receipt of payment issued by the builder would ordinarily suffice, but to be on a safer side you should ask the builder to execute a rectification deed.
2. In the absence of a rectification deed in your favour the builder can make an attempt to oust your proprietary rights. It is such apparently flimsy yet legally vital mistakes which can cause a tremor in the ownership rights of an individual. Sale deed can be vitiated on the ground that it contains the number of a cheque through which the purchase amount could not eventually be remitted. You can thus be on a very sticky wicket and may not be able to save your property.
3. Persuade him to make a rectification deed in your favour. Show your willingness to bear the legal fee of the lawyer towards execution of the deed. If even then he refuses to make the rectification deed then move to court and file a case for legally compelling him to make the rectification deed in your favour. If court orders him to execute the deed then he shall be obligated to do so.
Prefer a rectification deed. If the builder does not co-operate then prepare a separate memo of understanding detailing therein the reference to sale deed, cheque dishonour, issuance of fresh cheques in lieu of bounced cheque , acknowledgement of the same by the builder and get it signed by the builder in presence of some witnesses.
Hello,
Since it is a sale Deed I would recommend you to go for a rectification Deed so that the record is clear and there is no ambiguity.
If you settle with the receipts issued later by the builder for payment received it may suffice but it would entail a different document to be always forming a part of the original document and such similar complications.
Be ready to bear the registration charges when you approach the builder.
Once execution of sale deed complete it is mean that vendor has received full consideration,but better to execute a Deed of Rectification for future problem.
A. Once registered the Sale Deed presumption is consideration amount has been received by the Seller.
B. In your case, consideration amount not paid as per the mode of payment of Sale Deed. However, since you paid the amount by issuing 2 cheque that the better you enter a rectification deed of sale and correct the mentioned mode of payment in Sale Deed
C. Sale Deed would be valid unless a cancellation of deed executed before the Sub Registrar.
D. If rectification deed is not possible, You can also take acknowledgement in stamp paper by mentioning Sale Deed registration details along with facts from the builder regarding the same.