Dear Nagesh, the real estate law is approved by the Cabinet of the Union, but not yet voted by Parliament. Read: Highlights of the real estate bill. Please note that a sales agreement is only a document to obtain another document, i.e. a deed of sale, and does not confer any ownership rights. No one becomes the owner of a property by the mere execution of a contract of sale in his favour. However, both parties must comply with the conditions set out in the sales contract. Mr Reddy, I would like to ask for a personal credit case in which I granted interest to a known person 10 rupees in the form of a loan, I received from him a cheque for the same amount and I signed a stam document that mentions the interest rate and the duration of one year for the contract. No indication is given as to what will happen at the end of the period, nor on the penalties or clauses relating to the non-repayment of capital and interest. the person had paid me regular interest the first year and also the 2nd year with restitution of 5 Lakh Pricipal. But now he has not paid interest or capital for two years, because his financial situation is bad. the cheque he has given is staggered and no conditions for repayment of gifts and penates on stamp paper are mentioned. I can go pending and ask him to take an interest, and if he denies, I can talk about it legally.
Secured: A secured loan is a loan that is issued and backed by guarantees that can be used in the event that the borrower can no longer make payments. Collateral is usually a physical asset that can be confiscated and/or sold by the lender to pay off the loan balance. Warranties can be a car, a house, stocks or bonds. A credit agreement can be modified or supplemented at any time. Hi, Shreekant. This is a very good article. I have a doubt, so if you can only help me, it will be great. I know someone thanks to my cousin who would take a sum of 1 varnish and pay 1 year 5000 per month, and after a year he will return 1 varnish. Honestly, my profit would be 6,000 francs for the loan. He calls it an investment. He says he will give a bond paper that says he received 1lack from me and after 12 months, 1 lack of me will be reimbursed.
But it doesn`t mention anything more than 5,000 monthly payments. What I want to know is that if he includes the monthly payments in the contract document and he doesn`t pay me those payments, could I pay him in court to get my money back? Will the bond paper be valid to fight it in court? My mom wants a loan on farmland like every year she borrows, but for now I can`t go there and sign a loan agreement as a campaign candidate during COVID-19, I talked to the bank manager and asked, he told me to give her access to this last paper, how can I do this and what should I write on stamp paper? Do I have to write it down? Please guide….