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Advance for Property
10 months ago
I was about to sell a land in Tamil Nadu and received a token advance of 5 lakhs through bank. Latter
I made up my mind to not proceed with the deal.
I spoke to the buyer regarding the cancellation of deal asked for his bank details to return the advance received with the interest as per the normal savings account . The purchase has not provided the account details and more than a year has passed .
Since the purchaser lives in a different district , I am not aware of any other details regarding him. Once in while he calls and request to reconsider my decision .
Will this be a issue at latter stage when I actually want to sell the land to a different person .
A.Dear client,
If you have executed an agreement of sale, it is not legally binding on you. We would advise you to get a legal notice issued to him with the help of your lawyer and get the agreement of sale revoked as soon as possible to avoid any sort of discrepancies
If you have executed an agreement of sale, it is not legally binding on you. We would advise you to get a legal notice issued to him with the help of your lawyer and get the agreement of sale revoked as soon as possible to avoid any sort of discrepancies
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A.Dear Sir,
Better get issue a legal notice and terminate such deal and express your intention to cancel the deal and refund the advance amount. If it is registered agreement then file a suit for cancellation of such agreement by depositing advance amount in the court.
Better get issue a legal notice and terminate such deal and express your intention to cancel the deal and refund the advance amount. If it is registered agreement then file a suit for cancellation of such agreement by depositing advance amount in the court.
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