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cancellation of sale of land if buyer not paying the pending amount
02-Sep-2023 (In Property Law)
sir, I had sold an land to a person by getting some advance and we had signed in a stamp paper that we had received an advance and remaining amount will be given on registration and it will be done within 3 months.Now he is not giving the remaining amount and he raising lot of issue on this.Can i sell this land to another person?
What i understood is that you made an agreement for sale and the registration will be completed if the balance amount is paid with in the stipulated time. Time is the essence of this agreement and if has not fulfilled his role you can forfeit the advance amount and cancel the deal.
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Adv. G. Asok
Chennai | 100+ Answers
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If there is a default and forfeiture clause in the agreement of sale you entered into with that prospective buyer, you may issue him due notice and forfeit the advance amount. You may then sell your property to any other person of your choice.
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Adv. Swaminathan Neelakantan
Coimbatore | 700+ Answers
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