karan savla 27 December 2016

Property dispute

I have agreed to sell my flat to one person on 25th august 2016 for a consideration of 1 crore. He has made payment of 50 lacs on 20 th October 2016 till date but has not made the balance payment till date. Can I forfeit the amt received till date if he fails to give money

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4 Replies

saravanan s (legal advisor) 27 December 2016

Everything depends on the terms and conditions mentioned in the sale agreement and nothing can be said without looking into it

Vivek H Bedarker (A) 28 December 2016

Be very careful and use presence of mind. There have been several instances where mafia buyer pays partially as per registered agreement to sale and then stops payment to linger around finally forcing seller to settle at lower rate later. The seller is also trapped because he too cannot sell to any other Person. Also if buyer is not mafia but you cannot just confiscate as per your will even if it is mentioned in agreement (unless you are mafia). The agreement is not some sacrosanct document. It may be challenged in court of law. But do not attempt to confiscate hastily. You may land in real new trouble.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 28 December 2016

The sale agreement being a technical document will have a series of terms that you need to understand thoroughly.

G.L.N. Prasad (Retired employee.) 28 December 2016

Get any thing done legally and involve a trusted advocate for the purpose. Advocate may have to issue a notice pointing out the specific term of due date for payment, and then the specific failure of the purchaser in keeping up the promise.