Hi there,
I have entered into an agreement with a buyer to sell my property. Sequence of events as follows
1) Received a token amount
Signed a receipt with the clause that agreement will be signed in a week and an advance will be paid worth 6l on the date of agreement. this receipt was not signed by buyer. However he orally agreed to pay 8lalk
2) agreement to sell
It was done on a plain paper (not on stamp paper) with terms and conditions clearly spelled out. Received 7lakh cheque. however returned, as he had no money in the bank and gave 5lakh cash instead. This was again signed only by me. About a month has passed the buyer doesn't seem to be interested in paying the rest of the amount (advance) Although terms of the agreement gives him 2 months to execute the agreement in full
My question is:
1) How much legally safe am i, if i return his money and do not execute it at all??
2) What is the legal implications on me due to lack of stamp in the agreement??
