Kshitij Pandey 06 June 2019

Property agreement

I am selling my land in 1.7 Cr to the buyer . According to agreement he will pay me the complete amount in 1.5 years from the date of agreement after registering of plots he will build on the land.
There is no clause in the agreement that if buyer is unable to pay me the complete amount by 1.5 years then what will be the future of agreement.
Will the agreement still exist legally or everything will be quashed or can we renew agreement?

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3 Replies

Adv Rohit Dalmia 9324538481 (Lawyer) 06 June 2019

Hello Ksh*tij!

As far as the consequences of not paying consideration price within 1.5 years is not mentioned, then the agreement will not stand terminated automatically, unless there is specific clause in the agreeement for the same. Have you put any clause for forfeiting the money or any penalty clause in the agreement? without looking the agreement it is difficult to provide any opinion.

Hope your lawyer must have drafted the agreement in consultation with you.

For further query, you may call on the below given number.

Regards

Adv. Rohit Dalmia

9324538481