Legal Question in Real Estate Law in India
I have a property in my name which I was planning to sell.i have got advance from a buyer and made a legal agreement according to which the buyer should give me the balance amount within a period of four months and then the property will be transferred to his name.now it is almost one and half year and they are not responding, is it legal that I should give back the advance amount back and then sell the property to someone else? or whether I can find another buyer since agreement period is over?
3 Answers from Attorneys
May be. Check the terms of the agreement and act accordingly.
16.10.2013
Dear Sir / Madam,
The Agreement to Sale is invalid, null and void since the buyer has failed to pay the balance amount within the agreed time frame. YES, you may return back the advance to the buyer and you are free to sell the property to another person.
Regards,
We need to go through the contents of the contract before giving an opinion on this issue.
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