Legal standing on Real Estate Investment

[dmillhouse]

I live in Edmonton, Alberta and have a question regarding the legalities of a recent investment.

Long story short, I invested $100,000 with a builder last year who offered me a 90 day return of 22%. They needed to secure some land. I was offered interest on a pre-sold property using a caveat. The property didn't end up selling as the buyers backed out. The builder kept their deposit & downpayment, but I didn't get paid. It's now been 6 months since I was supposed to have received my money, but since the property's still on the market, I have to wait.

The contract written states a return in 90 days, but nothing regarding delay of repayment or penalties, etc.

Do I have a legal standing to ask for more than the agreed upon 22% if the property ever sells?

[omanproperty]

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[Hosanna]

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