MoU from builder for redevelopment flat
Hi All,
My father's inherited property is currently going for redevelopment in Mumbai. We would like to go for a buy-back to which the builder agrees.
However, Builder is offering an MoU with a relative/investor that he will pay a certain amount upfront and the rest in 8 months with a clause that money be returned if the MoU is cancelled. Furthermore he requests society not be informed.
I feel this does not protect my interest. From a legal point of view in order to guarantee that the agreed sum is paid with the option of legal recourse if not in 8 months, what would be the best way to proceed?
Best regards.
Asked 8 years ago in Property Law
Religion: Other