Agreement cancellation..
SHIVA
(Querist) 24 August 2011
This query is : Resolved
sir when a person is entering in to a contract by signing 3 months from advance date for a property purchase and he is not fulfilling the deal by that time.so when even he does'nt have the value for the time contract,still he says it is valid for 3 years and hence that property can't be sold to anyone else so how to bind him through law.. please answer
Advocate. Arunagiri
(Expert) 24 August 2011
If the agreement holder does not make the final payment and get the sale deed registered within the stipulated time, the land owner can sell the property to any one.
The agreement holder is eligible to get back the advance money after deducting the loss if provided in the agreement.
The agreement holder can not seek specific performance after the stipulated date, on failure to make the final payment.
