I HAD ENTERED INTO AN AGREEMENT TO SELL MY PROPERTY AND THIS AGREEMENT WAS REGISTERED. THE PURCHASER HAD A PERIOD OF 120 DAYS FROM THE AGREEMENT DATE TO FINISH THE REGISTRATION OF THE SALE DEED BY PAYING THE BALANCE AMOUNT. THE AGREEMENT WAS ENTERED INTO IN THE MONTH OF NOVEMBER-2011. THERE WAS A DEFAULT CLAUSE WHERE THE PURCHASER HAD TO PAY A CERTAIN AMOUNT AS PENALTY IF HE DID NOT COMPLETE HIS PART OF THE CONTRACT WITHIN THE STIPULATED TIME FRAME, TIME BEING THE ESSENCE OF THE CONTRACT(THIS BEING CLEARLY MENTIONED IN THE AGREEMENT TO SELL). THE AGREEMENT ALSO MENTIONS THAT THE AGREEMENT WILL BE CONSIDERED NULL AND VOID IF EITHER PARTY DOES NOT FULFILL THEIR PART OF THE CONTRACT WITHIN THE STIPULATED TIME FRAME. I HAVE SUBSEQUENTLY SENT MANY REMINDERS STATING MY READINESS TO COMPLETE MY PART OF THE CONTRACT. THE PURCHASER HAS RECEIVED THE LETTERS BUT HAS NOT REPLIED BACK TO EVEN ONE OF THEM. EVEN ORAL REMINDERS TO HIM HAVE BEEN IGNORED. HE HAS PAID A TOTAL OF 60% OF THE MONEY DUE TO ME, WITH A FEW PAYMENTS BEING MADE AFTER THE TIME FRAME EXPIRED AND HAS IGNORED ALL REMINDERS ASKING FOR THE FULL PAYMENT TO BE MADE. IT HAS BEEN MORE THAN 24 MONTHS SINCE THE DEADLINE (FOR THE TRANSACTION TO BE COMPLETED) EXPIRED. I WAS UNDER THE IMPRESSION THAT THE MOMENT THE PURCHASER DEFAULTED IN NOT COMPLETING HIS PART OF THE CONTRACT, THE AGREEMENT WAS VOIDED. HOWEVER A COUPLE OF PEOPLE HAVE TOLD ME THAT HE HAS 3 YEARS FROM THE AGREEMENT DATE TO FINISH THE CONTRACT. KINDLY ADVISE ON THIS AND ALSO THE SCOPE OF TAKING THIS THE LEGAL WAY WHERE I AM PLANNING TO CLAIM EXTRA MONEY FOR THE LOSS IN INTEREST FOR THE BALANCE PAYMENT. ALSO CAN I STILL ENFORCE THE DEFAULT CLAUSE IN THE COURT IF HE BACKS OUT AT THIS STAGE AND IF HE BACKS OUT, CAN HE CLAIM INTEREST FROM ME FOR THE PAYMENT THAT HE HAS MADE TO ME THUS FAR.
THANK YOU
