History of Dharmashastra (Ancient and Mediaeval Religious and Civil Law in India) v4.c63.827

v4.c63.827

*Uktalābha* is defined as a conditional sale, where a man borrows only a portion of the proper price of a land and stipulates that he would return the money on a certain day and that if he did not do so his ownership over the land would come to an end.⁸⁷³ Kāt. (711) adds that a sale of the uktalābha kind will be valid if it is for more than half (the proper price of the land), provided more than ten years have elapsed (after the period fixed for repayment). An *avakraya*⁸⁷⁴ becomes valid after possession for over three generations and a (regular) purchase by mutual agreement becomes valid at once. Kāt. (712) further⁸⁷⁵ prescribes that the unpaid purchase money carries compound interest after demand if no time is fixed for payment, but, if a time is fixed, then only the balance has to be paid up to the end of that period. Bṛ. provides that in all sales, the sale deed should mention the wells and trees (on the land), the water and ways and that the crops, trees and fruits, wells, tanks and house standing on the land sold would belong to the vendor if they are not put down in the deed of sale.⁸⁷⁶ According to Hārīta the rules of sales are to be extended to exchanges.⁸⁷⁷