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Returning token amount to buyer as seller wants to cancel the deal
11-Mar-2023 (In Property Law)
Sir, I have taken an amount of Rs.15000 as token for sale of my property on 05/03/2018. But due to family problem now I want to cancel d deal and I intimated the same to buyer within 5 days. Now what I should do. Can I return d the same amount to the buyer
Yes please return the token amount to the buyer and also intimate in writing with said reasons by sending demand draft of token amount or you pay the amount online his bank account otherwise the deal will not cancel.
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Adv. Kondaparthi Srinivasa
Hyderabad | 25+ Answers
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I have taken an amount of Rs.15000 as token for sale of my property on 05/03/2018. But due to family problem now I want to cancel d deal and I intimated the same to buyer within 5 days. Now what I should do. Can I return d the same amount to the buyer
have u entered into any agreement between you. reply will depends upon it.
have u entered into any agreement between you. reply will depends upon it.
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Adv. Gunturi Chandramouli
Eluru | 25+ Answers
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Hi,
You have not mentioned as to how was the agreement entered is it orally or in written form. If it is just verbal then you can and it is in written form then we have to see the conditions as to what is mentioned for the rest of the amount and what is the time frame and if in case of non compliance then what . You can send him a cheque also in his name by cancelling the agreement letter.
You have not mentioned as to how was the agreement entered is it orally or in written form. If it is just verbal then you can and it is in written form then we have to see the conditions as to what is mentioned for the rest of the amount and what is the time frame and if in case of non compliance then what . You can send him a cheque also in his name by cancelling the agreement letter.
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Adv. Mohammed Abdul Quadeer
Hyderabad | 400+ Answers
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