Refund where land transaction cannot be completed
141 Refund where land transaction cannot be completed
Where, after payment of consideration for any transaction relating to any land, it is found that the transaction cannot be completed —
within a period of 6 months after the date of entering into the transaction or within such further period as is stipulated in the transaction; or
within such further period as is stipulated in a subsequent agreement in writing made —
by all the parties to the transaction; or
when the subsequent agreement is made after the death of any of those parties, by the surviving party or parties and the legal personal representative of any deceased party,
because the land cannot be dealt with as a lot or lots, the person who paid the consideration is entitled to a refund of the consideration from the person to whom it was paid.
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