Legal Question in Real Estate Law in India

With reference to a plot(vacant land) in Andhra Pradesh ,
On February 9th ,2010 ,A buyer paid 1/6 th of total consideration in cash and obtained a token receipt on white paper.The receipt was handwritten by the son of seller and signed by the seller affixing a Rs.1/- revenue stamp.Two witnesses also signed.The receipt conditioned that balance amount must be paid on or before March 16 ,2010 and sale deed must be registered.On the date of registration, the land will be measured and handed over.
But, the buyer had not turned up by that date as the market was dull.
The seller gifted the same property on June 24,2010 by gift registration deed to the same son who scribed the token receipt earlier.
Now, does the buyer has any rights to claim the token amount?
In future, if the the market raises, does he have any right for buying the land?

Asked on 9/01/10, 11:47 pm

Vishwa Arya Arya & Co.

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what are the terms defined in the paper if the buyer fails to pay the balance on or before 16th march.

the buyer cannot claim the property but if the their is no forfeiture clause one might have to return the money

Answered on 9/03/10, 10:08 am

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