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Ritesh (Asst Manager)     11 June 2013

Agreement to sell a property but not selling that property

Dear Sirs/Madams

              My name is Ritesh khandelwal and I lives in Mathura (U.P). Some Years back my brother entered into a contract with a person to buy his house and gave him some advance. But that person did not sell his house and pleaded to increase the time of agreement and my brother agreed to it. Now the person is saying that he don't want to sell his house and he don't have the money to pay us back. He is saying that he will take loan from a bank and pay us our money. But for that loan we will have to cancel that agreement and waive all our rights on that property. Now if we cancels that agreement and takes a cheque from him with an affidaivit stating that he is giving us the cheque as a consideration of cancelling the agreement than will we be in a good position if he later refuses to pay the money. Kindly reply as soon as possible. We shall be very much thankful to you.



Learning

 3 Replies

reejas (advocate)     11 June 2013

is it a sale AGREEMENT. making an affidavit for repayment and cancelling the agreement will make u weak and u eill not be able to claim any money . ask him for the documents to give it in ur possession till u get ur money back. or u can sue him for specific performance in court 

Hemang (Advocate)     11 June 2013

If you do not need money urgently and really need a property, file a suit for specific performance of contract. By the time, the suit is decided, the value of the property would go high and will be appreciated. So file it. Do not ask for the money. 

Selva....... (Advocate)     12 June 2013

You have decide whether you need your money back or the property or the both. Accordingly you can proceed with next steps.

But cancelling the agreement for him to take a bank loan is not advisable, it will weaken your stand.


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