Yahoo Answers is shutting down on 4 May 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
My ancestral property in South India, consisting of an old house and land was sold in January this year.?
The sale document was made in January, 2013 and received almost half the total amount during the period upto July 2013. The buyer did not pay the balance amount, and registration did not take place in July 2013, as committed by him. Now he says, he don't have the balance money and he is trying to find a buyer for the property. Actually, he bought it to make a profit out of this deal. It is more than 9 months from the date of document, and we are planning to issue legal notice to him. If we initiate legal action, what are the implications? How long we have to wait to find a solution? Will there be a problem in selling a property under such circumstances?
1 Answer
- ?Lv 78 years agoFavourite answer
If you have mentioned the terms of payment in the sale agreement and time stipulated, you can get a stay on the sale claiming it null and void on the basis of non compliance of specific performance. If you have delivered possession of the property,by virtue of adverse possession you are at the mercy of the Buyer though he is delaying the payment of balance amount. .
However,the property conveyance deed can not be registered without your signature if you give notice to the Registrar along with the Courts order staying any further transaction. This is a tricky situation and try to settle amicably and with proper discretion. Consult good Lawyer. You might be benefited by appreciation of the property value and claim the difference as well which will take care of the Legal expenses.