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Trying to sell property - Can this person take any legal action against me
6 months ago
I am trying to sell a house and a party had come, paid an advance of 5 lakh. I had signed an initial agreement giving him time of 3 months to pay the full amount of the house and register it. 3 months are over, he could not pay the amount and now he is refusing to take back the advance he paid. In the agreement there was no clause mentioned that I am bounded to give back the amount or that I cannot sell the house to someone else. In this case can this person take any action against me if I proceed with selling the house to someone else without returning his advance?
A.Dear Client
In this situation, the absence of specific clauses in the agreement could complicate matters. However, the validity of the agreement and the obligations on both parties would depend on the specific terms mentioned in the document.
If there was no clear clause in the agreement about the forfeiture or refund of the advance payment, it could be argued that the payment was made as a security deposit or an earnest deposit. In the absence of a specific clause, the party may not have a strong legal ground to claim the return of the advance.
In this situation, the absence of specific clauses in the agreement could complicate matters. However, the validity of the agreement and the obligations on both parties would depend on the specific terms mentioned in the document.
If there was no clear clause in the agreement about the forfeiture or refund of the advance payment, it could be argued that the payment was made as a security deposit or an earnest deposit. In the absence of a specific clause, the party may not have a strong legal ground to claim the return of the advance.
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