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Author :
manoj
Posted On 25 May 2012 at 03:32
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i entered into a agreement to sell my ancestral agriculture land to one pvt ltd co in dec 2011 i received 25% amount as advance money and pay the bal 75^ amt in feb.,2012
but purchser did not pay the bal amount
i also written the agreemnt to sell on stamp paperand purchser signed the same
purchaser is not honouring the contract
can he demand his advance back?
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Expert :
V R SHROFF
Posted On 25 May 2012 at 08:44
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You issue notice to pay within another one month, or the Agreement to sell is cancelled, and you are free to sell to any third party, and any token or advance money paid towards the deal stands forfeited.
Get news paper published inviting Objections, by prospective buyer, and after 15 days , register sale deed , giving possession to third party purchaser.
He can demand his adv bk.
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Expert :
Nadeem Qureshi 9953809956
Posted On 25 May 2012 at 09:13
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Agree with Mr. Shroff, but he can not claim for advance back. advance shall be forfeited
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Expert :
M V Gupta
Posted On 25 May 2012 at 09:22
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Check the agreement for sale regarding termination of the agreement and forfeiture of the earnest money.Follow the procedure prescribed in it.
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Expert :
V R SHROFF
Posted On 25 May 2012 at 10:00
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Manoj is silent on terms of earnest money.
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Expert :
R.K Nanda
Posted On 25 May 2012 at 10:33
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No, he cannot demand his advance back.
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Expert :
Chanchal Nag Chowdhury
Posted On 25 May 2012 at 11:54
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Depends on the terms of the contract.
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Expert :
ajay sethi
Posted On 25 May 2012 at 14:43
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whata re terms of agreement for sale? it must have mentioned that in case of failure on part of buyer to pay balance 75 % following shall be the conseqneces .
please clarify whether there is for forfeiture clause?
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Expert :
Shonee Kapoor
Posted On 29 May 2012 at 18:19
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Nothing left to be added.
The clause has to be clarified.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
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Expert :
bhagwat patil
Posted On 04 June 2012 at 06:31
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Of course purchaser cannot ask for return of advance legally ,but you want to sale the same property the second purchaser will ask you to clear the charge over the property and ask NOC from first so called buyer, at that time you have to pay the advance if at all you don't want to sale within 3 years it's ok.
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