Refund of token amount

vinay bauskar (Querist) 28 August 2014 This query is : Resolved
Dear all,
I want a legal advice on my below query,
I have given advance of 2 lacs for buying a resale property in kalyan. In our first meeting i have cleared with the owner that i want to buy property by taking home loan from state bank only and no other privatise bank and he need to give all relevant document for home loan sanction.
We have MOU on paper with revenue stamp signed by a broker mentioning receipt of token amount and terms on behalf of owner. Beside some necessary documents bank is now asking for sucession certificate from onwer for home loan approval. Now the owner is denying to provide the document and asking us to change the bank instead & also denying for refund of token amount.
Till date We have not received other necessary documents from owner after 21 days of giving token amount.
So request you to give me options for recovering the token amount as we are not at fault and want to cancel deal.

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Kiran Kumar (Expert) 28 August 2014
Well if the owner is denying you the necessary documents, then the deal can be suspected.

You may put the owner with a Legal Notice for refund of amount being held by him.

If he denies you the money then you may proceed with a Civil suit against him for recovery purposes.

Visit some local lawyer for appropriate action.

ajay sethi (Expert) 28 August 2014
issue legal notice to seller to refund your Rs 2 lakhs on account of his failure to furnish succession certificate . also mention that bank has refused to sanction loan on account of seller failure to furnish succession certificate