Life estate is also ownership of right.

Defendant is the appellant. This Appeal arises against the judgment and decree of learned Principal Subordinate Judge, Salem, in O.S.No.57 of 1997 (dated 23.03.2000) in decreeing the suit filed for specific performance.

2. The subject matter of the suit is a site of an extent of 4275 sq.ft.with a building thereon situate in Survey No.98, Plot No.94 in Swarnapuri Colony of Alagapuram Village, Salem District.

3. According to Ex.A-2, a settlement deed dated 06.08.1986 executed in favour of the appellant/ defendant by one Angu Rathnam Chettiar, the said property will devolve upon the appellant/defendant and in case, male children are born to him, it will devolve upon them after the lifetime of the appellant. So, what right the appellant/defendant had in the property was only a life interest, as he got two sons.

4. It is not in dispute that the settlement deed was produced at the time when there was a bilateral agreement for sale of the property under Ex.A-1 dated 02.02.1994; which is why originally the agreement contained a clause that the defendant shall execute the sale deed along with his legal heirs. Of course, as it stands now the agreement contains no such recitals and they were found scored. The further recitals of the said Ex.A-1 agreement indicates that there was passing of advance of amount of Rs.51,000/-on that date; that the total consideration was fixed at Rs.8,10,000/-; that a sum of Rs.2 lakhs out of the sale consideration should be paid on or before 05.03.1994; that within a period of seven months from the date of the agreement, the balance sale consideration should be paid; and on such payment, the appellant/defendant should execute the sale deed. The recitals further contained that if the plaintiff fails to perform his part of the contract, the agreement will get frustrated and he will be liable for the forfeiture of the advance amount paid; and if default was committed on the part of the appellant/defendant in executing the sale deed with free encumbrance and along with I.T.C.Certificate and possession, it is for the plaintiff to deposit the balance sale consideration into the Court and sue for specific performance with costs and damages.

5. The respondent/plaintiff did not make payment of Rs.2 lakhs on 05.03.1994 as agreed under Ex.A-1. So on 12.07.1994 under Ex.A-5, the defendant issued a notice to the plaintiff indicating the default committed by the latter in not making payment of Rs.2 lakhs as agreed under EX.A-1 within the date mentioned thereto, namely, 05.03.1994 and granting further time till 02.09.1994 to pay the entire balance of sale consideration of Rs.7,59,000/- excluding the advance paid Rs.51,000/-. The following are the words found in Ex.A-5 notice of appellant/defendant;

"Though you have failed to honour this solemn agreement to pay Rs.2 lakhs on 05.03.1994, however, our client out of good gesture, hereby gives you time till 02.09.1994 to pay the entire balance of sale consideration namely Rs.7,59,000/-and the said time shall be the essence of the contract. If you fail to complete the sale on or before 02.09.1994 the said agreement shall stand cancelled and the advance of Rs.51,000/- paid by you will be forfeited and also you are liable to pay Rs.500/-towards cost of this notice".

6. Now, the dispute starts from the plaintiff by his issuance of a reply dated 20.07.1994 under Ex.A-3, wherein it was mentioned as follows:

"....by virtue of a (Gift) Settlement deed executed by A.Angu Rathnam Chettiar dated 06.08.1986, whereby your client has been given only limited interest in the concerned property and after your clients death, his two sons, who are adult sons now, should get the property.....My client insisted that your clients two adult sons should also join in the execution of the sale deed, as otherwise such sale to be executed by your client will not be valid. Your client agreed to get the execution of the sale deed not only by your client but also by your clients two adult s