Return of bayana
ritesh
(Querist) 31 January 2014
This query is : Resolved
Sir, I entered into a NOTORISED sale agreement to sell my CGHS flat. I was given a BAYANA of 13 lacs (8lacs chq & 5 lacs cash), at th time of signing with a condition that the 2nd installment for 25 would be paid on 25/11/13 & final on 5th Jan ,2014.However , on 27/11/13 , I was requested (VERBALLY) to restructure the payment as 2nd installment on 21/12/13 , which was done & paid by him , 3rd installment on 21/1/14 , and for the balance he gave me POST DATED CHEQUES for 31/3/14 & 7/4/14 , which I agreed in good faith . His Jan installment did NOT COME , instead he sent an SMS saying he does not have funds and the agreement should be cancelled & I should re-fund the monies paid by him as BAYANA & one installment . He agreed to buy this flat at rock bottom price as this CGHS is under process of REGULARIZATION by the RCS as possession was taken under SELF DRAW , & after regularization the cost of this flat will be at least 40 lacs more than what he is buying for. I have invested the fund received for another flat & I am a senior citizen & retired . Kindly advice my legal status regarding the return of funds.
Thank you.
Kumar Doab
(Expert) 31 January 2014
Usually it is stated in the Bayana agreement that if the buyer does not register the sale deed the advance paid shall be forfeited.
You should not have invested the funds till sale deed was registered.
It is felt that the Bayana agreement is valid for 3 years for the purpose of specific performance.
You may show the papers in person to a competent and experienced Lawyer handling property/real estate cases.
ritesh
(Querist) 01 February 2014
sir
this was an agreement to sell and purchase which has been notarized not the sale deed .sale deed would have been made after all financial transactions , and then it would have been registered on final payment ...pls advice
ritesh
(Querist) 01 February 2014
sir
this was an agreement to sell and purchase which has been notarized not the sale deed .sale deed would have been made after all financial transactions , and then it would have been registered on final payment ...pls advice
Kumar Doab
(Expert) 01 February 2014
You may term it as ‘Bayana’ or ‘agreement to sell’.
Usually it is stated in the ……………………………. agreement that if the buyer does not register the sale deed the advance paid shall be forfeited.
It is felt that the ……………………….agreement is valid for 3 years for the purpose of specific performance.
You may show the papers in person to a competent and experienced Lawyer handling property/real estate cases.
