Agreement for Sale of
Mortgaged House
This Agreement made at
......................... on this ................ day of ...................,
2000, between A, son of ...................... resident of
...................... (hereinafter called the vendor) of the FIRST PART, B,
son of....................... resident of .................................
(hereinafter called the purchaser) of the SECOND PART and C son of
..................... resident of.......................................
(hereinafter called the mortgagee) of the THIRD PART.
Whereas the vendor is
absolutely seized and possessed of or well and sufficiently entitled to the
house more fully described in the Schedule hereunder written, hereinafter
referred to as the "said house";
And Whereas the said
house is mortgaged with Shri ................. for the sum of Rs.
...................... pursuant to a deed of mortgage executed between the
vendor and Shri ............................. on the other part and a sum of
Rs. ....................... is due from the vendor to the said mortgagee.
And Whereas the
vendor has agreed to sell and purchaser has agreed to purchase the said house
an the terms and conditions mentioned below:
it is hereby agreed
between the parties as follows:
1.
The
vendor will sell and the purchaser will purchase all that house No.
.................... Road ............... more particularly described in the
Schedule hereunder written for a sum of Rs. ............... out of which the
purchaser has paid Rs. ................. to the vendor as earnest money (the
receipt of which sum, the vendor hereby acknowledges) and out of balance price
to be paid by the purchaser, he shall pay Rs . .................. on or before
the date of ......................... and the remaining sum of Rs.
.................. will be paid to the vendor at the time of registration of
the sale deed.
2.
The
mortgagee's advocate shall deliver the documents of title of the said house to
the purchaser's advocate against his accountable receipt within ..................
days from the date of this agreement for investigation of title.
It is hereby declared
that delivering the documents of title by the mortgagee to the purchaser's
advocate will not affect the mortgage of the mortgagee and mortgage on the said
house will continue until the full payment of the mortgage money is made to the
mortgagee by the vendor or the purchaser.
1.
2.
3.
The
said house will be purchased by the purchaser without any encumbrance,
easements, restrictions and rights affecting the same.
4.
The
purchase shall be completed within a period of .............. months from the
date of this Agreement. The purchaser shall send the draft conveyance deed to
the vendor a fortnight prior to the date of the intended execution and after
approval thereof by the vendor, the purchaser shall get the same ready for
execution by the vendor. All expenses for preparation of the conveyance deed,
cost of stamp and registration charges and all other out of pocket expenses
shall be borne by the purchaser.
5.
The
mortgagee shall discharge the mortgage on the back of the mortgage deed on
payment of Rs. ........... by the purchaser and return the mortgage deed duly
discharged to the purchaser. It is hereby agreed and confirmed that the sale
deed shall not be executed, unless the mortgage on the said house is discharged
by the mortgagee.
6.
If
the vendor's title to the said house is not approved by purchaser's advocate,
the vendor shall refund the earnest money to the purchaser within
................. days from the date of intimation by the purchaser about the
non-approval of the title by his advocate. If the vendor does not refund the
earnest money within................ days, he shall be liable to pay interest @
Rs ................ per month upto the date of payment of earnest money. In the
case of non-approval of title by the purchaser's advocate, the purchaser's
advocate shall return the documents of title of the said house to the
mortgagee's advocate.
7.
If
the purchaser commits breach of this agreement, the vendor shall forfeit the
earnest money paid by the purchaser and the purchaser shall also be liable to
pay to the vendor the deficiency and expenses of resale of the said house.
8.
If
the vendor commits breach of the agreement, he shall refund the earnest money
to the purchaser and he shall also be liable to pay Rs . .................. to
the Purchaser by way of liquidated damages.
9.
The
vendor shall execute conveyance deed in favour of the purchaser or his nominee,
as the purchaser may require.
10.
The
vendor shall hand over the vacant possession of the said house and documents of
title in respect thereof to the purchaser before registration of the conveyance
deed.
11.
The
vendor shall at his own cost obtain certificate under section 230A, Income-tax
Act, and any other permission or no objection from Government, Municipal or
statutory authority for the completion of conveyance deed.
12.
Notwithstanding
anything contained in clauses 7 and 8 hereof, the parties will have the right
for specific performance of this Agreement.
The Schedule above
referred to
IN WITNESS WHEREOF
the parties have set their hands to this Agreement on the date and year first
hereinabove written.
Signed and delivered
by Shri A,
the within named
Vendor
Signed and delivered
by Shri B,
the within named
Purchaser
Signed and delivered
by Shri C,
the within named
Mortgagee
WITNESSES;
1.
2.
