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Cancellation of Agreement To Sell
17-Oct-2024 (In Property Law)
I have agreement to sell for outright sale of a property with builder with 6 month timeframe. The builder only gave 5% as his cheques bounced (notice given).
For How long can this builder potentially hassle me and drag on a legal case ,if he goes into litigation? ATS mentioned-time is of the essence, contract gets cancelled with advance forfeited after 6 months, builder can't challenge this in court but can get transaction enforced via court if i don't sell despite him being ready and willing
Respected sir, as far as I have understood, the moment, the builder defaulted in making the payment and his cheques got bounced, he already violated the terms of the contract himself, which now puts you in a better position for not selling the property for him being failed on complying with the ATS. However, you may consult me in that regard to make a strategy to go forward with this.
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Adv. Puneet Srivastava
Delhi | 700+ Answers
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As per the facts provided by you, you have discussed a 6-month time frame. If his cheques are bouncing it is unlikely he will go in litigation and pay Court fee on the property. Even if he does, by filing appropriate Applications it can be wound up within 6 months.
If he goes to Court for Specific Performance he will have to pay the Amount in the Agreement. So I don't think he will file a Civil Suit.
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Adv. Kunal Sinha
Delhi | 200+ Answers
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Do seek a detailed legal consultation from an Advocate. Get the contents of the Agreement to sell legally perused and verified. Do Act aa per the advise of the lawyer only. Get the Agreement cancelled And do take reference of the dishonoured cheques
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Adv. Anubhav Kathuria
Delhi | 1000+ Answers
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We can issue a legal notice for seeking cancellation of ATS thereby forfeiting the whole amount. Simultaneously, we can also institute a 138 case against the Accused for the commission of offence of 138 - cheque bounce
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Adv. Alankrit BhatnagarÂ
Delhi | 100+ Answers
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