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  1. #1
    Join Date
    Mar 2016
    Posts
    10

    Default Developer and Forfeit Money

    We signed an agreement with a developer and he agreed to construct a multi storeyed building on our land.

    He also gave us an initial amount of forfeited money .

    As per the agreement signed,he is supposed to provide us a temporary relocation (shifting); which he is unable to do now. So this is his inability,not ours.

    Now he is saying that he will have to cancel the agreement.

    If the cancellation is done, do we have to return that forfeited money ?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,817

    Default Re: Developer and Forfeit Money

    It does not sound like you are in the United States. If you are not, consult a lawyer in your nation.

    If you are, you need to follow the instruction to identify the U.S. state in which this is occurring. You can also expect follow-up questions to clarify the facts and your use of terminology. But fundamentally, your answer will depend upon the terms of the contract you signed with the developer.

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