Legal Question in Intellectual Property in India

i sold out m y property before about 5-6 years but i have not got the money of my property he paid only 7 lacs.but actual prize of that property that time 21-22 lacs and said he will give the money after some time but not so how i can get the prizeof that property but property is registered of that person's name

Asked on 9/06/13, 4:32 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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Dear Sir / Madam,

It surprises me that you have been waiting for 5-6 years for the payment and you parted with the possession of the flat without receiving the full amount. Usually the sale is registered and the possession of the property is parted with only after the seller receives the entire "purchase consideration" including the bank loan amount component if any. You will have to issue a legal notice asking the purchaser to pay the remaining purchase consideration as in the Agreement, or handover the property back to you. Litigation proceedings are envisaged to resolve the issue.


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Answered on 9/06/13, 8:48 am

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