Reading: My building is being redeveloped, and the developer promised new apartments within 2 years. That deadline is nearing, but construction is only up to the second floor. It seems like it’ll take another two years, and the developer is struggling financially. They’re asking to extend the deadline and want to pay rent in installments over the next 18 months with post-dated checks. Should I agree to this? My rights say I can reclaim the property if they don’t finish on time. What should I do?

My building is being redeveloped, and the developer promised new apartments within 2 years. That deadline is nearing, but construction is only up to the second floor. It seems like it’ll take another two years, and the developer is struggling financially. They’re asking to extend the deadline and want to pay rent in installments over the next 18 months with post-dated checks. Should I agree to this? My rights say I can reclaim the property if they don’t finish on time. What should I do?

Last updated: August 25, 2025 1:15 pm

Apni Law

1 year ago

Law Forum › Category: Property › My building is being redeveloped, and the developer promised new apartments within 2 years. That deadline is nearing, but construction is only up to the second floor. It seems like it’ll take another two years, and the developer is struggling financially. They’re asking to extend the deadline and want to pay rent in installments over the next 18 months with post-dated checks. Should I agree to this? My rights say I can reclaim the property if they don’t finish on time. What should I do?

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Apni Law Staff asked 1 year ago

My building is being redeveloped, and the developer promised new apartments within 2 years. That deadline is nearing, but construction is only up to the second floor. It seems like it’ll take another two years, and the developer is struggling financially. They’re asking to extend the deadline and want to pay rent in installments over the next 18 months with post-dated checks. Should I agree to this? My rights say I can reclaim the property if they don’t finish on time. What should I do?

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Apni Law Staff answered 1 year ago

You have the right to reclaim the property due to the delayed construction. However, accepting the developer’s proposal might be a reasonable option. Consult a lawyer to understand the risks and implications of accepting the proposed payment plan and deadline extension, and to ensure your rights are protected.