My jurisdiction is: malaysia
my father is working as a part time property agent.
3~4 years ago, on one of the land property that he's working on,
His friend has interest on the land but don't have enough money. ( the reason he wanted to buy is there's rumours that there will be some sort of government project going to be started on that piece of land)
End up my father loan him MYR 2 Million for him to buy the land.
after a while, he told my father that he couldn't sell off the land and he doesn't have the money to return to my father.
a month ago, His daughter hired a lawyer, asking my father to go see them, and saying that they don't have that much of money, but WILLING to give back RM300000 , in one condition. which is my father need to sign a document, to give up the right to chase back the rest of the amount.
( heard from my sister, seems like his daughter is taking over the business.)
Question: Is the owner of that piece of land as on today will affect the chances of getting back the money?
This thing is really hurt my father because that was his best friend.
According to my father, They did sign a handwriting contract.
From my mother, my father EVEN sending statement to his friend very month but he's not that type of person who will open his mouth to ask money from people.
When my mother ask about this matter to my uncle, whom is also a lawyer, he asked my father go check if the land is still under the person name or not....saying that if not anymore, it's very hard/ no chance to get back the money, and it's better to take the amount that they are offering.
But my father is not willing to accept that.........
None of us is lawyer and really don't know how to help my father,
hope that you would assist us on this matter.
my father is working as a part time property agent.
3~4 years ago, on one of the land property that he's working on,
His friend has interest on the land but don't have enough money. ( the reason he wanted to buy is there's rumours that there will be some sort of government project going to be started on that piece of land)
End up my father loan him MYR 2 Million for him to buy the land.
after a while, he told my father that he couldn't sell off the land and he doesn't have the money to return to my father.
a month ago, His daughter hired a lawyer, asking my father to go see them, and saying that they don't have that much of money, but WILLING to give back RM300000 , in one condition. which is my father need to sign a document, to give up the right to chase back the rest of the amount.
( heard from my sister, seems like his daughter is taking over the business.)
Question: Is the owner of that piece of land as on today will affect the chances of getting back the money?
This thing is really hurt my father because that was his best friend.
According to my father, They did sign a handwriting contract.
From my mother, my father EVEN sending statement to his friend very month but he's not that type of person who will open his mouth to ask money from people.
When my mother ask about this matter to my uncle, whom is also a lawyer, he asked my father go check if the land is still under the person name or not....saying that if not anymore, it's very hard/ no chance to get back the money, and it's better to take the amount that they are offering.
But my father is not willing to accept that.........
None of us is lawyer and really don't know how to help my father,
hope that you would assist us on this matter.
