Where, after payment
of consideration for any transaction relating to any land, it is found that
the transaction cannot be completed —
(a)
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
(b)
within such further period as is stipulated in a subsequent agreement in
writing made —
(i)
by all the parties to the transaction; or
(ii)
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.