Entered into an agreement for sale of property will I get possession
26-Aug-2023 (In Property Law)
I am a hindu individual major, resident of Gulbarga. I have entered in to an agreement for sale of my property. The buyer of my property has agreed to pay the balance amount on or before 1st September. And I agreed to give possession on the day of sale agreement. I want to know that if the purchaser doesn't turned up on 1st September. What I have to do? Whether I have to return the amount which was given by the purchaser at the time of sale agreement?.Or there is no liability with me? I will get my possession back automatically?
It is not clear whether you have parted with possession to purchaser or you are yet to give possession. If possession is not given, better not to give possession till the entire sale consideration is received by you from the purchaser. Better still if you can deliver possession on execution and registration of the sale deed by receiving the entire sale consideration.
If you have delivered possession and the purchaser is not ready and interested in paying the balance as agreed, better cancel the agreement by receiving back vacant possession against payment of advance received.
If you have delivered possession and the purchaser is not ready and interested in paying the balance as agreed, better cancel the agreement by receiving back vacant possession against payment of advance received.
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