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legal validity of token advance on a plain paper without revenue stamp
20-Jul-2023 (In Property Law)
i had taken a token money of rs 10000 for sale of my flat and gave an acknowledgement on a plain paper but did not mention any time limits for registering the sale deed. is the said receipt valid in court and can I refund the token amount to him if I don't wish to proceed further with the deal since he seems to be delaying the registration process? also kindly clarify whether the buyer can prevent me from selling the flat to another buyer or go to court if I wish sell the flat to another buyer?
Once you have entered into Agreement you have to register the same, if the purchaser is ready with money. Even plain paper is deemed as Agreement and it is binding and valid in court. If he is delaying the registration process, you can give legal notice and then you have to file specific performance case against the purchaser asking him to pay the balance sale consideration.
The purchaser has right to prevent further transactions to another buyer until decision of the court.
The purchaser has right to prevent further transactions to another buyer until decision of the court.
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Adv. Ravinder Pasula
Hyderabad | 100+ Answers
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