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Author Topic: Buyer did not abide by the agreement of full payment within the agreed timeline  (Read 710 times)

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Offline Hema

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Hello. My father entered into an agreement with a prospective buyer  and had taken a token advance . The rest of the amount was to be paid in 3 installments by 2 months after which he would get possession. The clause that he would forfeit the token amt if failed to honour the deal was included. Now after more than a month's delay, he still wants to go with part payments and extend it to another 3 months. If we are not interested to proceed, he demands the entire token adv back. We are even okay to spare him with some amount after deducting a nominal rent for the period of 3 months that he has engaged us in the deal that didn't get through. He now threatens us intending to file police complaint if we dont pay the entire amount.Please advise  what will be correct for us legally.

Offline advbose

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in any land dealing advance payment means trouble. In property matters entire amount should be paid in one go.

Now see what he does until he files a complaint and registers under what relevant section he books the matter it is not possible to comment on it

 

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