An year ago, i was interested in buying my neighbors flat in Mumbai. Another member of our co-op society was acting as a broker so there were in total 3 parties involved. Myself, our neighbor and the broker. We signed the MOU via the broker and handed them Rs 1 lakh as token. Few weeks later we gave their 50% payment cheque but when they went for registration, they were asked for a NOC from their daughter who lives in USA and the whole process was taking too long. So we decided to not do the deal. They returned the cheque which was 50% payment but now it has been more than a year, they havent returned the token money which was Rs 1 lakh. Now we heard yesterday that they sold the flat and we gave a written letter to our co-op housing society to stop the transfer of their flat as they still have to pay us Rs 1Lakh token money. Our housing society said this is a civil matter we cannot interefere. What should we do next? We really need an expert's advice.
Ask a question and receive multiple answers in one hour.
Lawyers are available now to answer your questions.
1. Send a legal notice to your earlier neighbour to return your token amount of Rs. One Lakh which you had paid to them.
2. In case, they refuse to return your token advance amount of Rs. One lakh, file a suit for recovery of your money in the jurisdictional Court.
You are welcome sir.
You have to sue your neighbour to recover Rs one lakh with interest
2) society would not intervene as it is civil dispute
If the said deal is broken from your side then ideally token will not eb returned if he has suffered lioss by such deal being broken. As a practice of market the token is ideally a confirmation of deal and only returned if the said deal is broken by the seller. You need to approach for civil remedy the expense of which will be more than what is your token amount. If you have any mou under which there is mention of returning of token on any conditions then you can seek refund
Sir/Madam,
For recovery of that token money, you are suggested to serve the legal demand notice and then file the case of recovery in the civil court.
The society cannot involve or interfere in this matter because it is a private matter between you and the seller
You can take legal action b y first issuing a legal demand notice to the seller demanding the return of the token amount failing which you can file a money recovery suit on the basis of the evidence of he receiving the money from you in this regard.
Dear Client,
You can legally claim refund of token money and if, for any reason, the buyer fails to complete the transaction, the seller would forfeit the token money, unless the parties have made a notarised agreement stating otherwise.You may go for the option of money recovery suit.
Thanks & Regards
- A co-op society is a body that represents interest of people living in a community ,and is responsible for managing day-to-day problems of the members , residents, , and also safeguarding the rights of the unit holders.
- If you have given your compliant to the society for stopping the transfer , then the society should not issue the NOC to the seller , as you are also a member of the society.
- Hence, if the society not ready to solve your dispute then you can lodge a compliant against the society before the Registrar .
- Further, if you having proof of payment of the token money , then you can send a demand legal notice to him , and on refusal you can file a recovery suit against him for getting refund with interest.
