Land sale issue
3 years ago
Dear sir, we have made an agreement of sale of land worth 40lacs in Jan 2020 with a time period of 45 days for final sale. We have taken 5 lacs as token amount at the time of agreement and balance will be on registration date. Now they have not made registration with in 45 days (till now not done) and at present we are not ready to sale the land to them and asked them to take back your 5lacs, but they are not ready to take the 5lacs and asking us to sell the land at old price or else asking 3% intrest per month of that 5 lac token amount. What should we do now
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
You can repay the token amount and maintain an acknowledgement of the same. You are not obligated to sell to them as they failed to perform their part of the transaction on time. As such, they cannot claim any interest from you or demand that you sell. If they continue harassing you, you can contact the police or have a Judge file an injunction order against them.
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You can repay the token amount and maintain an acknowledgement of the same. You are not obligated to sell to them as they failed to perform their part of the transaction on time. As such, they cannot claim any interest from you or demand that you sell. If they continue harassing you, you can contact the police or have a Judge file an injunction order against them.
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A.Hi,
Serve them with notice of termination of the agreement. You can then return the money to them, take an acknowledgement of the same and end the matter there. They have no legal grounds to claim any interest from you, nor are you compelled to sell them the land, as they breached the agreement.
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Serve them with notice of termination of the agreement. You can then return the money to them, take an acknowledgement of the same and end the matter there. They have no legal grounds to claim any interest from you, nor are you compelled to sell them the land, as they breached the agreement.
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A.You can proceed as per the terms you both have signed in Agreement of Sale.
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