Legal Question in Real Estate Law in India
3 years back, 5th june 2007 i have kept my 1000 yards for sale, then one buyer came, then we have comitted for 80 lakhs for that 1000 yards,then he had given me 30 lakhs,and then he had given me receipt of 30 lakhs,he told that he will be give total amount in 45 days,then he had given 30 lakhs in 10 days , after that he is telling that he need not to buy that 1000 yards idon't want that land give money back,then we have invested that 30 lakhs for our personal use ,now we are not having money,now the buyer he is disturbing to give money back,he had given only receipt that he had mentioned in the receipt that he had agreed for 80 lakhs,and giving this 10 lakhs money on a 25 june 2007,thats all he mentioned and given me 30 lakhs, till now the present date:14 march 2010;the buyer is disturbing to give money back.now the queston is that till now 2nd half year over that had given me money,we did not given money ,whether any right that buyer can take action on me.i dont want to give money . i considered one advocate he told after 3years the buyer cant take any action on me .is it right or not ? i dont want to give money , it is just receipt , give me suggestions please sir.... thank you .
2 Answers from Attorneys
You may better show your documents - receipt etc. - to a local lawyer for appropriate advice.
See you did not mention whether you have entered into any agreement of sale with the buyer and secondly if you have received already 60 lakhs and the buyer if is not in position to pay the money then you send a cancellaction of sale proceedings notice and you cannot keep entire moeny for yourself only you can claim certain amount as damages but not the whole money. think appropriate so that the buyer is not put to hardships neither you.
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