Legal Question in Real Estate Law in India

The agreement for sale: The below are the contents in the agreement. We are the sellers (First party).

1. Advance money of Rs 50000. and details of transactions.

2. Remaining some part of money has given and details of transactions.

3. The remaining part money will be given at the time of registration.

Only the above points are given in the agreement. No conditions nothing has been mentioned. No time frame for registration and validity of the agreement.

Below are the questions, Please answer :-

1. Can we (Seller) cancel the agreement and refund their money.

2. If the second party (buyer) don't agree for the cancellation then will they hold any legal rights.

3. Do they have any right to claim? If YES then how much they can claim.

The total sale value is Rs 700000, and they have given 50%. The sale agreement have done in June 2010. Still not registration done.


Asked on 2/11/13, 5:51 am

4 Answers from Attorneys
Jayesh Desai Jayesh Desai

Generally, if no time limit is specified the limitation would be three years. You have not mentioned possession is parted or not. As per your showing at the moment you can only seek Specific Performance, if they decline then you can cancel, due to their non-performance.

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Answered on 2/11/13, 10:10 pm
Fca Prashant Chavan Expert Edge LLP

12.02.2013

Repeat query ... already answered.

Regards,

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Answered on 2/12/13, 10:05 am
Shrichand Nahar S.V.Nahar, Advocate

1. May be.

2. May be.

3. Depends or varies as per the nature / claim in the suit.

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Answered on 10/02/13, 2:54 am


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