As landlord I agreed to sell my commercial flat to my tenant by a notorised agreement stipulating the time &date of initial & 2nd, 3rd & final payments so that on receipt of the final payment a registered sale deed will be executed in favour of the buyer. Unfortunately on payment of initial advance the buyer failed to make any further payments with excuses to show his positive intent. Meanwhile he is making regular rental payments. After a year or so he somehow decides that he is not in a position to purchase my flat. Now my question is what should be done to the initial advance of Rs one lakh? Should I return it to him or make some or full deduction due to breach of agreement? Should I also make an agreement for cancellation of earlier sale agreement?
