Security deposit given. How to refund if can't to come into agreement?
I have taken a shop on lease & given holding security deposit Rs 6000 for two months deposit & 1 month running & rest 6 thousand on commencing datee of agreement.
For some reasons I am not able to move into agreement. Can I ask for refund of Rs 6000 given to the owner?
Answer
As the amount involved is only Rs.6000, you may request the lessor to return your amount explaining your difficulties to execute lease agreement. If you take legal course of action that will cost more money than what you are losing right now.
In case you would anyways like to pursue this legally, we would need to have a look at your lease deed. It all depends upon the conditions stipulated in the lease deed. The termination clause of the lease deed will come into play and based on that you can terminate the lease deed and get your security back.
If you haven’t signed the lease deed yet, then you can move a civil suit for recovery of the security deposit. In the court of law, you shall have to give sufficient cause for your terminating the lease deed prematurely and claiming the security deposit back.
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