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Is token amount non given for flat is refundable
25-Jun-2023 (In Property Law)
A week back I took token of Rs 50000 (Cash) from a buyer for my flat. There was no agreement or paper in writing given to buyer for these 50K. Now buyer change his mind and cancelling the purchase and demanding token amount. I have used those 50K and now I am unable to pay him entire amount at once. I am able to pay as 10000 per month in 5 month but for that he is not ready. Also he is threatening that he will contact politician to recover amount. What can be done ?
As per your query
If there is no record or witness of giving money to you then legally it would be difficult for him to prove the same in court. Suggest you not to give anything in writting for acceptance or payment of money. At the most he can presurise you to refund his money. If you are willing to repay the money, the same should be as per your convineniece.
Regards
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Adv. Neelkanth Goswami
Thane | 400+ Answers
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This is my response to you:
1. You can tell him orally and then in written format that you have spent the money and you are ready to give him the cash in a time bound manner;
2. You can also say that, you are not legally obligated to pay him since there is no record on paper;
3. Inspite of no agreement you are not even forfeiting the token money (which you have the right to);
4. So he better patiently wait for his amount;
5. If he blackmails you or threat to life then file a police complaint against him.
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Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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