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Bayana given. Now i don't want the property. How to get money back?
10-May-2023 (In Property Law)
I planned to purchase a flat in Uttam Nagar, Delhi. The cost of property was decided at Rs. 30.75 Lacs including registry, and all other expenses. I also gave the seller a bayana of Rs. 3.25 Lacs. He kept trying to clear his home loan file in his bank for 4 months but could not get it done.
I want to cancel this deal and want my money back. It is already written on the bayana receipt, if the seller fails to sell that property in stipulated time, he will give back double of bayana amount. What should I do?
We need to know what is written on the Bayana receipt in case the buyer wishes to repudiate the transaction. If nothing is mentioned then, you can send a written intimation repudiating the transaction demanding the bayana back.
The Hon’ble Supreme Court has recently held that in the cases of earnest money, if the same was as a part payment then the same needs to be returned in full by the seller.
However, if the bayana was for the purpose of putting the transaction in action then the seller is allowed to retain it. We need to examine the facts of your case thoroughly to guide you properly.
As we can understand, you can file a recovery suit against the seller in case he refuses to return your money.
Kindly contact us for any further details and action.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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