To get the advance amount back
Deepak Nair
(Querist) 16 October 2013
This query is : Resolved
Learned experts,
In this case, Mr. A paid Rs.5 lacs as advance for a house property. Entered into an agreement, whereby the balance amount of Rs.15 lacs to be given in 6 months time. The property is 1/3 of a bigger property which the vendor got through partition.
But, the deal cannot be concluded now, as the documents for clear title of the property is unavailable. Since the original document other than the registered partition deed is unavailable, the banks are not giving loans. Thus, the said Mr.A demanded the advance back. The agreement too says that, if the vendor fails to produce the necessary documents, the advance shall be returned in full. If the buyer walks out from the deal, then also the vendor shall return the amount after deduction of expenses incurred by him of any.
Now, the vendor says he is not in a position to refund the money and he needs time till March 2014. But, the agreement already entered for 6 months expires in November 2013.
in this circumstances, what can be done to safeguard the interest of Mr. A the purchaser?
Even though the vendor promises orally to return the money by march, is it advisable to make another agreement to that effect?? if yes then how??
Can I suggest them to make a deed of cancellation of the current agreement adding the points "vendor agrees to return money by march 2014" and "if he fails to refund, then purchaser can approach the court for recovery and attachment of the property"??
Kindly advise on the above.
Thanks
prabhakar singh
(Expert) 16 October 2013
The author is expert and featured member of LCI so there is no occasion to think he has repeated his query.
It is fault of server.
I find some time my answers get posted multiple times without any effort of mine,
something bad with flood control system of server.
Sudhir Kumar, Advocate
(Expert) 16 October 2013
Both Civil suit and criminal case can be filed even at this stage.
But agreed with the proposal of Mr Deepak.
Let the buyer create record that seller is violating the contract and the seller has no title of land while accepting part consideration.
R.K Nanda
(Expert) 16 October 2013
repeated query.
Deepak Nair
(Querist) 16 October 2013
Once again thanks to the learned experts.
Dear RK Nanda Sir, this is not a repeated query. You might have came across a similar query earlier. Please share your views in this. Thanks
Deepak Nair
(Querist) 16 October 2013
Kindly accept my apologies. The query got posted twice without my knowledge.
Dear Prabhakar Sir,
thanks for your support and clarification.
Devajyoti Barman
(Expert) 17 October 2013
Both civil suit for recovery of money and criminal case of cheating can be filed.
Deepak Nair
(Querist) 17 October 2013
Thanks to all the learned experts for valuable advise.
ajay sethi
(Expert) 17 October 2013
BETTER ISSUE LEGAL NOTICE ON BEHALF OF PURCHASER PLACING ON RECORD THAT SELLER HAS FAILED TO PRODUCE ORIGINAL DOCUMENTS OF TITLE IT IS NOT POSSIBLE TO CONCLUDE THE DEAL . REQUEST SELLER TO REFUND ADVANCE PAID WITHIN 15 DAYS OF RECEIPT OF NOTICE .
FILE SUMMARY SUIT ON FAILURE OF SELLER TO REPAY THE ADVANCE .YOU CAN FILE CONSENT TERMS IN SAID SUIT GRANTING SELLER TIME TO MAKE PAYMENT
