Sale of property

Querist : Anonymous (Querist) 02 March 2011 This query is : Resolved
9 months back we have decided to sale our flat to a person. But as our titles paper with the society was not clear the deal was delayed. At that time the prospective buyer paid us 1 lakh as a token amount which was recorded on paper with revenue stamp. Now as our papers are not still clear we dont want to sell our property. we even approached the prospective buyer to return the token amount however is refused to accept it. Now he is demanding interest on the token amount and his lawyer fees. Can he demand it legally? How can we return his token amount. Please guide us in this matter

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R.Ramachandran (Expert) 02 March 2011
What does the contents of the recorded paper say?

Raj Kumar Makkad (Expert) 02 March 2011
Generally if token amount is retained for such a long time, normal interest is paid to prospective buyer irrespective of your specific writing in signed and stamped paper. This might be very meager amount so why to enlarge dispute and it should be resolved amicably.

Guest (Expert) 02 March 2011
I agree with the views of Mr. Raj Kumar Makkad. It is however not understood how entry of a lawyer has happened in the process of the token amount of Rs. 1 Lakh?

However, if during the deal/process of a token amount or service of any notice arose during the process, ethically, you would also have to reimburse the cost the other party spent in the process when the deal has failed to mature on account of deficiency on your part.

Hope Mr. Makkad and other experts may also like to express their views on this issue of refund of lawyer's fee.

PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]

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