VIC Signed Contract of Sale but No Title - Break Contract?

[KIMEW]

My partner and I have split up. We have signed a land contract of sale and paid deposit of $10000.

Due to the split, neither of us can afford to buy the land on our own. The land is not titled yet. Would we be able to break the contract and lose our deposit with no further legal action taken against us?

Thank you in advance

 

[Rod]

Maybe. Depends on the terms of the sale agreement. Check your agreement.

 

[Sophea]

Was the contract subject to finance or anything? Or is it now unconditional?