Property cancellations

Querist : Anonymous (Querist) 06 March 2019 This query is : Resolved
Hello

I recently did MoU with one to purchase a plot. And paid 90 percent of amount.Mou mentions if I am unable pay the amount within stipulated time owner of plot is not responsible and owner have to do separate arrangements of plot to sale.mo mentions nothing on money back. Per pradikaran who's plot being sold cannot be sold for 5 years unless some specific conditions. Owner will only do Power of attorney and assignments deed. Is MoU legal?

For some reason I have to cancel the plot deal now. Will I get my money back? How shall I tackle this.

Regards
Nasir

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Vijay Raj Mahajan (Expert) 06 March 2019
You should have consulted some expert lawyer before entering into any such absurd MOU and in addition to that you paid 90% of property value without any condition of money return in case of cancellation of the deal.
Now when you're in soap you're look

Vijay Raj Mahajan (Expert) 06 March 2019
You should have consulted some expert lawyer before entering into any such absurd MOU and in addition to that you paid 90% of property value without any condition of money return in case of cancellation of the deal.
Now when you're in soap you're looking for experts opinion here in the forum and that too free of cost.
Recovery of money paid will take lots of years through court proceedings as you'll have to file civil suit for the same.
You have hardly any options left now for recovery of your money in a legal manner.
However there can be some work out be worked out by mediation with other party.

kavksatyanarayana (Expert) 06 March 2019
Dear queriest, is MOU registered? Is MOU executed on Stamp paper? Did you both signed in the MOU? As per your statement, the point of return of money in case of failure of transaction is not mentioned. Now how can you expect to back your money? However consult an experienced advocate who has knowledge in property matters.

Querist : Anonymous (Querist) 06 March 2019
Yes MoU is on stamp paper ..yes we both signed mou

Dr J C Vashista (Expert) 07 March 2019
File a suit for recovery of amount paid with interest, through a local prudent lawyer.

Property cancellations

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