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Need suggestion and help

Last updated: December 6 2009
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  • Need suggestion and help

    Hi friends,

    kindly help me regarding a issue, we made agreement with a person to sell our 2.25 acrs agriculture land for Rs.60 lakhs before four years and received partial payment of Rs.10 lakhs, now the agreement expired, and the same person(mediator) approaching us to sell our land at the current value its around 2.25 crores, but they are willing to make partial payment only, they need three months agreement.

    We are confused and in pressure by the person. need legal and professional advice, whether if the amount received 1 crore as partial payment what is the proper way to avoid legal risk which one is better payment mode DD or cheque or cash?. or any other way to avoid the person and legal risk? whether the agreement valid still?
  • #2

    #2

    Re : Need suggestion and help

    Originally posted by sarasuma View Post
    Hi friends,

    kindly help me regarding a issue, we made agreement with a person to sell our 2.25 acrs agriculture land for Rs.60 lakhs before four years and received partial payment of Rs.10 lakhs, now the agreement expired, and the same person(mediator) approaching us to sell our land at the current value its around 2.25 crores, but they are willing to make partial payment only, they need three months agreement.

    We are confused and in pressure by the person. need legal and professional advice, whether if the amount received 1 crore as partial payment what is the proper way to avoid legal risk which one is better payment mode DD or cheque or cash?. or any other way to avoid the person and legal risk? whether the agreement valid still?
    i
    is the buyer (not the mediator) aware of the previous transaction?
    i think the agreement is still valid as you hold the 10 laks still.
    check for the law of limitation in this case.consult a good and trustworthy lawyer about terminating the agreement,my opinion is that you dont tell the lawyer about the new offer and your willingness to sell the property.
    in the court maintain that since the lapse of time you no longer desire to sell the land and will retain the land.
    anyways the best means is to settle the issue with the previous buyer,may be by giving him some more money.

    if the buyer is aware about the previous transaction and is willing to go ahead ???

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