quesinitial amount paid but full payment pending

if a person buys a property from me and after giving some amount of around 25 % as a consideration and does not give the rest of the balance amount for years. what legal action should i take and can the amount given by him be forfeited ?? what other measures can be taken if a dispute arises.

  • ansIt appears that you are the owner of the property and it is in your possession. Consequence of default on the purchaser shall depend upon the terms entered into at the time of agreement to sell. If there is a forfeiture clause in the agreement, you can forfeit the earnest money if it was by way of earnest money. There is a difference between the advance and the earnest money. In this present scenario you can not sue for recovery of balance amount.

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Property lawyers in India

Property Lawyers

Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 13 years

Advocate Arjun Vinod Bobde

  Supreme Court of India
 Experience: 13 years

Advocate Sudershani Ray

  Kailash Hills
 Experience: 9 years

Advocate Harish Malhotra

  District Court
 Experience: 18 years

View all >>

How it Works

Know how LawRato makes legal easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly