Legal action against refusal to buy land
Query: I have sold my property and took byana 18 lacs but buyer denied to buy it after 4 months. Now its been 3 years , what shall I do ? No the property prices are also down
Under the Indian Limitation Act, Section 62, you have a limitation period of 12 years to claim payment upon a property that was mortgaged or sold. In this case, only 3 years have passed, so yes you can still claim the money.
As far as the cost of the property in question, if you signed a written agreement with the buyer, you can use them to your advantage and claim the price negotiated upon. Even if the property prices have dwindled, you can still claim the original price tag so agreed upon.In case you had no written agreement, you can depend upon any witness or any individual who was part of the agreement making process or was in the knowing about the agreement in question.
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