Seller demands buyer to pay price difference before transferring ownership as house price triples: Court Decision

Reported about 1 year ago

In Gansu, mainland China, a man named Du sold a house to a man named Wang 20 years ago for 70,000 RMB, and now demands Wang pay an additional 1 million RMB claiming the price has risen, refusing to transfer ownership otherwise. The court ruled in favor of Wang stating that the original agreement must be honored, and Du must proceed with the transfer. Du's actions were deemed lacking legal basis and violating principles of good faith.

Source: YAHOO

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