EXTENSION OF TIME UNDER AN AGREEMENT TO SELL
Harpreet Singh, of House 118, Sector 35-A, Chandigarh, and Aarav Sharma, of House 211, Sector 21, Panchkula, are the parties to this instrument.
Seller contact: +91 98150 12345 / harpreet@example.com. Buyer contact: +91 98765 43210 / aarav@example.com.
- 1. ORIGINAL AGREEMENT
The parties refer to Agreement to Sell dated 01 August 2026 for House 52, Sector 8, Chandigarh. This extension is executed on 2 April 2026.
Original completion date: 1 April 2026. New completion date: 2 April 2026.
- 2. REASON FOR EXTENSION
Reason: Seller title/loan closure condition remains pending.
- 3. EFFECT OF EXTENSION
New date treatment: The extended date is material and any further extension must be written. Earlier-default waiver: Only delay up to the new date is waived; accrued rights not expressly waived survive.
Extension compensation: No separate extension charge is payable.
Price: Sale consideration remains unchanged. Possession: Possession position remains exactly as under the original agreement. Other terms: All other terms remain unchanged.
- 4. CONTINUING AGREEMENT
Section 54 of the Transfer of Property Act, 1882 treats a contract for sale as an agreement that a sale will take place on settled terms; the contract does not by itself create an interest in or charge on the property. The final transfer of ownership must occur through the legally required conveyance/registered instrument.
Except for the written extension and additional changes expressly stated, the original agreement continues. A further oral extension should not be assumed from continued negotiation or delayed attendance at registration.
The reason for extension should be concrete. If a mortgage release is pending, the seller remains responsible for obtaining it as agreed; if buyer finance is pending, the buyer remains responsible for lender compliance. Extending time does not transfer a seller obligation to the buyer or convert a financing contingency into an unconditional obligation unless the extension says so.
Both parties should continue performing preparatory obligations during the extension. The seller should preserve title and avoid fresh adverse rights; the buyer should maintain funding readiness and complete diligence. An extension is not a standstill unless the parties expressly state one. Evidence of communications, document tenders and appointment for registration should be retained.
If the new date cannot be met, the parties should execute another written extension or use the contractual termination/default route. Continued negotiations after the date should not be relied on as the only proof that the agreement remains alive. A written chain of extension instruments makes later readiness/default analysis substantially clearer.