Hi
I need some info on property agreement.Myfather got into an Agreement to Sell on a 100rs stamp paper which had an X amount and the buyer gave an earnest money /or token money of 5 lakhs only in cash.
The time limit to complete the property transaction was 4 months.But now the buyer is not a good man and misguiding us .So we do not wish to sell him our house and execute the proper sale deed.
So can be cancel this agreement to sell as the time will be finishing in 15days , as the 4 months period will get over and he has not payed any money or done a registered agreement. Should we forfiet the money if the time is up or should we give it back to him and cancel.
Also what can he do to trouble us with this agreement in case he does not wish to withdraw and take back his money.
Pls advice ....
thnks kiran sharma