Generally at the time of buying the plot, if we have promised to build a house in 2 to 3 years and failed to do it, does any one know the repercussions of it ? (involved penalty/other impact) etc.,
cheers
Hello All,
To whom would this promise be made ? For example, a community which sold the land on the basis that it would be used within a certain time frame or an architect who sold the land as part of project which he/she would manage or what ?
Maybe there would be a buy-back clause in the contract (or ground book).
with the commune - if the promise is made - what are the implications ?
What is this "promise" you made?
Was a legal document you signed along with a representative of the commune?
Was it a casual remark made verbally over the counter?
You will need to supply proper information for a proper answer.
BOAS time again!
Here is an example [German] https://www.blick.ch/wirtschaft/in-b…d17719332.html . It will be clearly regulated.