I own a piece of land and a developer wants to build on it. He’s offering me half the built-up area. What legal protections should I include in the agreement to safeguard myself if the developer fails to complete the project? Can I seek redress from the consumer forum in such a scenario? What happens if the developer passes away during the project? I’m looking for expert advice on securing my interests in this development agreement.
Best Answer
You should include clear clauses specifying the developer’s obligations, deadlines, penalties for delays, and a mechanism for dispute resolution. While a consumer forum may not be the most appropriate avenue for this kind of dispute, you can explore other options like civil court or arbitration. The developer’s death may lead to legal complexities, so it’s essential to include provisions about project inheritance or termination, along with clear succession plans.
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