I have finalized a property. The owner has not registered the property so I need to sign Tripartite agreement between Owner, builder and self. The owner has asked for payment of some amount in cash. However he is saying that he wants the cash money during the tripartite agreement itself without any receipt saying that as he is mentioning the flat value in the tripartite agreement in less amount, if afterwards some issue comes then he may not be able to demand the decided cash amount from me as the same is not mentioned anywhere. I cant give the cash amount to him blindly as I do not know him. What is the procedure to deal with this kind of situation. Further he want to mention in the Tripartite agreement that in case the deal gets cancelled then he would not return the deposited money even if my bank rejects the loan for the said property due to document issues. Bank can always reject my loan if the property document is not proper and in that case I will be loosing my earnest money deposited to him. What is the way to deal with this situation ?
