• Is it safe to lend money

Sir,
 For the regularization letter(RL) of the house we need to pay the amount in NIT(nagpur improvement trust) , the amount which is written in demand note should be paid half-half by my mother and mother's sister. First of all they(mother's sis and her husband) denied to pay the half amount and asked us to pay the whole,we disagreed it.
 And now they say that they dont have money, you people pay and we will return you in the month of sept, so is it safe to take post dated cheque and in written on 500 stamp paper that they will sure return.
we need to get it done as early as possible bcz mutation is being stopped bcz of it.
Asked 7 years ago in Property Law
Religion: Hindu

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6 Answers

1) you can obtain letter from aunt and her husband that in case payment of X amount is paid by you they would return money by september end

) it need not be on stamp paper

3) you cna accept post dated cheque for said amount

4) please note that in case cheque is dishonoured you would have to file complaint under section 138 NI

5) cheque bouncing cases take 5 years to be disposed of

6) you can also file summary suit to recover the money due and payable

Ajay Sethi
Advocate, Mumbai
95203 Answers
7607 Consultations

5.0 on 5.0

1. Yes, make a promissory note executed by her on a stamp paper wherein make a time schedule of repayment.

2.Get the promissory note attested by 2 witnesses.

3.tHEN YOU MAKE THE PAYMENT AND WAIT FOR REIMBURSEMENT.

4.If she does not repay then you can on the basis of the Pro Note can file suit for recovery of money.

Devajyoti Barman
Advocate, Kolkata
22920 Answers
498 Consultations

5.0 on 5.0

it should be mentioned that on demand i promise to pay X sum of RS ______ with interest at rate of ____.

it should be signed by the maker

Ajay Sethi
Advocate, Mumbai
95203 Answers
7607 Consultations

5.0 on 5.0

Take help of a lawyer, he will draft the same.

Devajyoti Barman
Advocate, Kolkata
22920 Answers
498 Consultations

5.0 on 5.0

And now they say that they dont have money, you people pay and we will return you in the month of sept, so is it safe to take post dated cheque and in written on 500 stamp paper that they will sure return.

we need to get it done as early as possible bcz mutation is being stopped bcz of it.

If you are ready to pay the part of the amount on their behalf owing to the urgency of the situation, you may get a loan agreement signed from them for having taken loan from you on this date for this purpose and shall repay the same within a time stipulated along with interest at the rate as decided, besides getting a post dated cheque b making a mention of it in the said loan agreement.

This would ensure a safe passage for your money.

T Kalaiselvan
Advocate, Vellore
85404 Answers
2236 Consultations

5.0 on 5.0

Thank you,how should be the matter of promissory note.What type of sentences should be used on stamp paper

You cn get a promissory note executed which can be drafted by a document writer, You may approach a document writer in the local who would do it on terms

T Kalaiselvan
Advocate, Vellore
85404 Answers
2236 Consultations

5.0 on 5.0

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