1) letter from seller that he would refund Rs 15 lakhs within period of 3 months would be binding upon the seller

2) it need not be on stamp paper or notarised or registered

you can file suit to recover your money with interest if seller defaults in making payment

also claim costs from seller

It should be done simultaneously

2) ask him to give demand draft of advance paid by you and you will deliver possession immediately

3) seek phone consultation from kaanoon. Com

Whenever the ownership of an immovable property is transferred from one person to another the same requires registration. So when the seller gave you the possession of the flat was under registered deed then the ownership will devolve back to him only in case there is a registered document. Your playing the game of trust if you do not comply with the norms.

GOPAL VERMA

ADVOCATE ON RECORD

SUPREME COURT OF INDIA

1. Possession is nine points in law. It is assumed that you are in possession of the house.

2. If you are not in possession of house then you will be in troubles.

3.You must get a registered deed in respect of immovable properties.

4.You just keep and try to take back the amount nicely, if you are not in possession of house

5. It would be more better if you would take undated signed cheques from him towards cheues

Possession of the home is best and strong situation in your case, if that person is not able or willing to pay you the amount, based on this documents you may file a civil suit for recovery or civil suit for specific relief act before the civil court.

Not legal but after impounding the stamp it may be looked into by court

1. It appears the same is a promissory note and it is valid even if it is on Rs.100 stamp paper as promissory note does not require registration nor notarisation.

2.Yes after 3 months if the seller does not repay you can file a suit for recovery of money.

3.Do not give him anything. Since he ahs agreed to repay within 3 months wait till its expiry and once 3 months time expires you can file money suit to get back the advance money you paid.

1. It seems that you have entered into an agreement to cancel the deal with him. This agreement is not required to be either registered or on a stamp paper. It can be unregistered and on a plain paper.

2. If he does not honour the agreement then you can file a suit for specific performance against him to seek the refund of the amount.

At the expiry of 3 months offer to return him the house and demand your refund. If he refuses to refund the amount then firstly issue a lawyer's notice to him and then file a suit for specific performance.

Agreements made on white paper are valid. so an agreement made on 100 rupees stamp paper can surely be valid if it fulfills all other conditions under the law and as per the law.

But, if the agreement requires to be stamped and registered then it cannot be used as an evidence of proof before a Court of law. Under the Indian Stamp Act, 1899, as Section 35 [1] specifically provides that a document which any person relies upon to be used as an evidence cannot do so if the same is not duly stamped and unregistered.

-- As you have entered into a written agreement with the seller , whereby he has undertakes that he will pay Rs.16 lac after three months of time , when you will give him possession of your occupied home. So, at least notarized this agreement for your sake.

-- You have deal with seller in past that and you had paid 16 lakhs for the home and in this way,you came into the possession of the house. Have you any transfer documents in your favor after paying this huge amount to the seller? Possession is not safe/complete without any transfer documents in your favor.

If the property is not in your name till now and simply you are in possession of the property, then you must take precautionary steps for your amount.

If the seller has entered into an agreement with you to refund the amount , so better , you try to take postdated cheques for the period of his promise , including that agreement.

1. That is an agreement signed on a stamp paper which is valid as per law.

2. Even oral agreement is valid if its existence is proved.

3. However, it will be prudent on your part to get the said agreement notarised (preferably putting back date).

1. Yes you can file a case against him seeking direction upon him to perform specifically as per the said agreement entered in to by and between you two.

2. The said case shall have to be filed under Specific Relief Act, 1963.

1. There will be high risk if you return him then possession of the property before receiving the said Rs. 15 lakhs as agreed by him.

2. he may not agree to return you the said amount after receiving possession of the said property and for getting the said rs.15 lakhs from him, you shall have to file a Money suit which might take years to be disposed of.

Yes definitely go ahead and take this deal, you can do this.

Just take this undertaking in writting that he will return the money.

Regards

The agreement to return the amount to you executed in a non-judicial stamp paper with attesting witnesses is a valid agreement on the basis of which you can file a money recovery suit.

You can get it notarised if necessary.

in that agreement we have mentioned that we are cancelling this deal so after 3 months if seller will not return my 15 lakhs then can i make case on him?

If the builder is not returning the amount then you may file a money recovery suit based on this agreement considering it to be a receipt for passing of consideration.

we are staying in that home now, so he is asking that within 3 month give empty home to him and he will return my own money of that home.

So can i do that? is there any risk in that?

Can i discuss with you on call properly?

You can choose an advocate from this forum and book a phone consultation on further steps to be followed in this regard.

You can deliver the vacant possession after receipt of your money and can remain stayed in the same house till then.