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Land Advance booking without any agreement
14-Jul-2023 (In Landlord/Tenant Law)
I have doubt sir..
One of my plot was advancely booked before 7 years without any legal agreement..
We ask them to settle the whole money every year until now they did not settled the money.
After an argument with them we are not going to sell the land to them, in this case what will happen if we go for judiciary..
And they are saying they still need that land or interest money for their advance..
unlike buyers, sellers can't back out and forfeit their earnest deposit money (usually 1-3 percent of the offer price). If you decide to cancel a deal when the plot is already under contract, you can be either legally forced to close anyway or sued for financial damages.
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Adv. Raghuraman Balaji
Chennai | 900+ Answers
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when did not paying the balance of money why should not you move to a legal for immediately or cause a legal notice if it is not showing delete you are accepting that one so there is an obligation for specific performance but in an inordinate delay in the other part is also not a fruitful one so you can go to cancel the agreement and get back the land through a judicial process
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Adv. Satish Kumar
Chennai | 1000+ Answers
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