Refund of token advance paid
Amit Banerjee
(Querist) 13 September 2014
This query is : Resolved
My client has paid token advance of Rs.5 lakh to buy a plot of land, On verification of documents the buyers lawyer have asked for many documents which are missing and not updated.
The seller refuses to provide further documents saying one month is over and he is not obliged to return the token advance.
The advance has been paid in cheque and since the seller lives in a different city no written receipt has been obtained from him.
What is the legal recourse?
P. Venu
(Expert) 14 September 2014
Has the cheque been encashed?
Anirudh
(Expert) 14 September 2014
When the seller says "one month is over" what this one month refers to?
Is there any agreement to sell which says that the balance amount of consideration is to be paid within one month?
Amit Banerjee
(Querist) 14 September 2014
Cheque has been encashed and no written agreement or paper is there. It was only payment of token advance payment and handing over set of documents by the sellers broker.
Rajendra K Goyal
(Expert) 14 September 2014
Send legal notice and file suit of recovery as there is no written agreement to pay balance in one month.
Kumar Doab
(Expert) 14 September 2014
Agreed with experts.
The broker is a witness and keep him on your side.
Amit Banerjee
(Querist) 14 September 2014
Does the property go under litigation?
Advocate. Arunagiri
(Expert) 14 September 2014
It is hard to believe that you have paid Rs.5 lakhs even without obtaining receipt, without any agreement, without seeing the relevant documents.
Raj Kumar Makkad
(Expert) 16 September 2014
Token amount is huge and so seems the total consideration of the property hence it shall be better to resolve the issue amicably failing which file a suit for recovery.
T. Kalaiselvan, Advocate
(Expert) 20 September 2014
Better take help of a local advocate, send him a legal notice demanding him to refund the advance amount, failing o invoke proper response, you may approach court with a suit for recovery of money.
