Property dispute
ranjit
(Querist) 28 February 2014
This query is : Resolved
ear Sir,
I having a property in Delhi, Due to sell of property , I having a meeting with purchaser to sell of my property for Rs. 20 lac, during meeting he give me 50000/- as advance against sale of property and a document in white paper and pasting a revenue stamp Iwas signed between us and three witness, the details of documents are given below :-
RECEIVED A SUM OF RS. 50000/- (RUPEES FIFTY THOUSAND) ONLY AGAINST SALE OF HOME (Details of Address of my home) FROM PURCHASER, TOTAL SALE OF PROPERTY IS RS. 20 LAC, ADVANCE RECEIVED RS. 50000/-.
Now I have decided not to sale the property and like to refund rs. 50000/- to purchaser, now the purchaser asked to pay me a penalty amount of Rs; 50000/- more. otherwise he may file a case against me in court and my property become siezed from sale in future by the order of court. So my question to you all the stated true and what are the consequences ?
ajay sethi
(Expert) 28 February 2014
does it mention when balance amount is to be paid ? before signing any document always consult a local lawyer. if you dont honor transaction purchaser can file suit for specific performance against you . arrive at an amicable settlement .
ranjit
(Querist) 28 February 2014
(FINAL DATE - 3/3/2014) is written on agreement, the agreement is written in white paper with a revenue stamp
Rajendra K Goyal
(Expert) 28 February 2014
Better arrive at an amicable solution. You are not interested in performing your part of agreement. Prospective buyer can approach court for specific performance.
Vidhi Joshi
(Expert) 28 February 2014
Consult a local lawyer, as specific performance might be initiated, try to settle amicably.
Guest
(Expert) 28 February 2014
If court case is initiated, the case may start eating away of your property by and by. Amicable solution can be beneficial for both the parties.
Guest
(Expert) 28 February 2014
If you prefer to backout from the sale of your property, better compensate the other party appropriately.
