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Recovery of Debt of advance money given for property purchase
05-Oct-2023 (In Property Law)
My father has given 10 lakh as advance money to a property (Rs. 50 lakh approx.) holder for the purchase 5 years ago. Till now, he has not given the possesion nor the the property is sold to us or to someone else. He has some dispute with the collabortor. Now we want either a property by paying the remaining money at today's market price or, the advance money along with the interest rate and risk premium.
Hello,
For the query you posted, I would suggest the following:
Indeed a suit for recovery of money can be initiated at your behest, considering the factual narrative provided by you .
Further proper insight to the matter is required.
I hope that answers your query.
Best
M.Faris
For the query you posted, I would suggest the following:
Indeed a suit for recovery of money can be initiated at your behest, considering the factual narrative provided by you .
Further proper insight to the matter is required.
I hope that answers your query.
Best
M.Faris
Helpful?
Adv. Mohd Faris
Delhi | 100+ Answers
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Before advicing you over the same you have not mentioned weather there was an agreement to sell and purchase between you and that person or not??Secondly it depends on the settled term of the agreement what can be seeked it is your prerogative as well.You can seek both specific performance on the basis of agreement and recovery of your amount along-with damages as well.Please contact for further details thanks.
Helpful?
Adv. Nishant Solanki
Delhi | 200+ Answers
CONTACT NOW
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
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