Agreement to Sell
(Involving Life-interest)
This agreement made this 5th day of September One Thousand Nine Hundred Ninety Nine between Sri GS son of Late PS by faith Hindu, by occupation Service, residing at 15, Anna Salai, Chennai 600 001 and Smt. LS wife of Late BS, by faith Hindu, by occupation housewife, residing at 15 Anna Salai, Chennai 600 001 (hereinafter referred to as the vendors which expression shall unless excluded by or repugnant to the subject or context be deemed to mean and include their heirs, executors, administrators, legal representatives and assigns) represented by their Constituted Attorney Sri RS son of Late M.S residing at 7A, India Exchange Place, Calcutta 700 001 of the one part and Sri PD son of Sri KD by faith Hindu, by occupation service, residing at BC 164, Salt Lake, Calcutta 700 064 hereinafter referred to as the purchaser (which expression shall unless excluded by or repugnant to the subject or context be deemed to mean and include his heirs, executors, administrators, legal representatives and assigns) of the other part:
Whereas:
1. Sri GS is the owner of premises No. …………………………… of ……………………… subject to life-interest of Smt. LS.
2. The said Smt. LS released her life-interest in favour of Sri GS but such release was not registered.
3. The vendors are now absolutely seized and possessed of or otherwise well and sufficiently entitled to all that the entire first floor measuring an area of 600 square feet be the same a little more or less together with the exclusive right to enjoy the roof of premises No. …………………… of …………………………… having undivided proportionate share or interest in the land of the said premises which contains a total area of 2 cottahs be the same a little more or less whereupon one old two-storeyed brick built building is situated more fully and particularly described in the Schedule hereunder written (hereinafter referred to as the said property) and delineated in the Map or Plan annexed hereto and bordered red thereon free from all encumbrances charges, liens, lis pendens whatsoever or howsoever nature.
4. The vendors have agreed to sell and the purchaser has agreed to purchase the said property at or for the price of Rs. ……………….. (Rupees …………………) only free from all encumbrances (hereinafter referred to as the said property) on the terms and conditions hereinafter appearing.
Now this agreement witnesseth as follows:
A. The vendors hereby represent and assure the purchaser as follows:
(a) That the vendors are absolutely seized and possessed of or otherwise well and sufficiently entitled to all that the said property free from all encumbrances, charges, liens, lispendens, whatsoever or howsoever nature and have a good marketable title in respect of the said property more fully and particularly described in the Schedule hereunder written.
(b) That there is no legal or equitable bar or impediment on the part of the vendors to enter into this Agreement with the purchaser.
(c) That the vendors have not entered into any other Agreement for sale, development, to let out, lease out etc. in respect of the aforesaid property with any Third Party prior to entering into this Agreement.
(d) That there is no outstanding dues in respect of the said property to the Calcutta Municipal Corporation or to any other Authority.
(e) That no notice has been served on the vendors by the Calcutta Municipal Corporation on account of non-payment of tax and no proceedings are pending on account of the same.
(f) That no notice has been served upon the vendors by the Department of the Income-tax in regard to the said property.
(g) That the vendors have already sold the entire ground floor together with the proportionate share or interest in the land of the said premises to one KPS by an Indenture of Conveyance dated the …………… .
B. Relying on the aforesaid representations and assurances on the part of the vendors the purchaser has agreed to enter into this Agreement for purchase of the said property from the vendors on the terms and conditions hereinafter appearing:
(1) The purchaser shall pay to the vendors a sum of Rs. 10,000 out of Rs. ……………. as Earnest Money and/or part-payment of the total consideration money and the balance shall be paid by the purchaser to the vendors on or before the execution and Registration of the Deed of Conveyance or Conveyances either in favour of the purchaser or his nominee or nominees.
(2) That the vendors shall arrange for inspection of all the relevant and material documents of title relating to the said property for the purpose of investigation of title.
(3) That one of the vendors Smt. LS must be present before the registration office personally and shall sign in the Deed of Conveyance for conveying the said property.
(4) That the vendors shall make out a good and marketable title in respect of the said property and make the same free from all encumbrances, pre-emption rights, whatsoever.
(5) That the vendors shall answer all requisition on title that might be delivered to the vendors by the purchaser and/or his Advocate.
(6) The sale and purchase shall be completed within 6 months from the date of delivery of peaceful vacant khas possession of the said property by the vendors to the purchaser.
(7) The vendors shall execute and register the Deed of Conveyance in favour of the purchaser or his nominee or nominees against the payment of balance of consideration money. The Stamp Duty and registration cost and other incidental costs thereto shall be borne and paid by the purchaser.
(8) If the purchaser fails or neglects to complete the transaction in the manner and within the time aforesaid on payment of the balance of the consideration money then the vendors shall be entitled to either forfeit the said sum of Rs. 10,000 which has been paid by the purchaser to the vendors as earnest money and the purchaser should vacate the property or the vendors may sue the purchaser for specific performance of contract as per terms of this agreement.
(9) The vendors shall pay all arrears of Municipal taxes and other outgoings charges in respect of the said property before the execution of the Deed of Conveyance in favour of the purchaser or his nominee or nominees.
(10) Upon making out a good and marketable title and readiness of the purchaser to complete the transaction on payment of the balance of the consideration money if the vendors fail to complete the transaction in the manner aforesaid the purchaser shall be entitled to get back the entire earnest money with interest at 22% per annum and to sue the vendors for specific performance of contract and get the deal completed with compensation which is pre-estimated at Rs. 50,000.
(11) The vendors have further agreed and covenanted with the purchaser as follows:
(a) That during the continuance of this Agreement not to sell, transfer, let, further encumber or otherwise part with possession of the said property or any part thereof.
(b) Not to induct any person either as a tenant or otherwise into the said property or any part thereof.
(c) To pay and discharge all municipal rates and other taxes, levies, impositions and other outgoings payable in respect of the said property upto the date of execution of these presents.
(d) To cause all necessary parties to join in the Deed of Conveyance at their own cost.
(e) The vendors shall obtain the Income-tax clearance certificate under s. 230A of the Income-tax Act 1961 for transferring the said property at the costs of the vendors, if required.
Schedule
All that the entire first floor measuring super built up area of 600 sq. feet be the same a little more or less together with roof on the first floor along with the undivided proportionate share or interest in the land of the said premises which contains an area of 2 cottahs be the same a little more or less whereupon one old two-storeyed brick built building standing thereon or on part thereof situate lying at and being Premises No. …………………………………. within the limits of the…………………………… and butted and bounded as follows:
On the North:
On the South:
On the East:
On the West:
A Map or Plan annexed hereto and bordered red thereon.
In witness whereof the Parties hereto hereunto set and subscribe their respective hands and seals on the day, month and year first above-written.
Signed, sealed and delivered
by the vendor GS at Chennai
in the presence of:
1. ……………………………
2. ……………………………
Signed, sealed and delivered
by the vendor Smt. LS at
Calcutta in the presence of:
1. ……………………………
2. ……………………………
Signed, sealed and delivered
by the Sri RS Attorney of the
vendor at Calcutta in the
presence of:
1. ……………………………
2. ……………………………
Signed, sealed and delivered
by the purchaser Sri PD at
Calcutta in the presence of:
1. ……………………………
2. ……………………………
Received of and from the within-named Purchaser the within mentioned sum of Rs. 10,000 (Rupees ten thousand only) being the Earnest Money or part-payment of the consideration Money as per Memo below:
Memo of Consideration
By A/c. Payee cheque No………………………
dated ……………………… Drawn on X Bank Ltd.,
Calcutta Branch in favour of the
Vendors … … … Rs. 10,000
(Rupees Ten thousand only)
1. Received
2. Signatures
Witnesses: GS
LS