We’re a Hindu-Maratha family and sold our property two years ago. The buyer gave a token amount and agreed to complete the transaction within six months in 2014. He kept delaying it and now wants to cancel the agreement and get his money back. He threatens legal action if we don’t return the money. We’re ready to sell the property but need to resolve this issue quickly due to financial constraints. What can we do?

As per the Indian Contract Act, 1872, the buyer has the right to seek specific performance of the contract, meaning he can legally compel you to complete the sale. However, since there’s a delay and financial constraints, you can negotiate with the buyer to either fulfill the contract or mutually agree on a cancellation with a reasonable settlement. Consulting a lawyer is highly recommended to understand your legal options and protect your interests.