cheque bounce
Deepu
(Querist) 23 April 2010
This query is : Resolved
I have purchased one site in Bangalore with the mutual agreement with site owner, the total cost of site is 700000 lacks and 600000 lacks paid in cash while register time and the remaining amount paying in later and I register the site. after registration . still he was not given position to me and he saying remaining amount paying immediately then only I will get the position. but now my financial condition is very bad because of my dad get admitted in the hospital for a heart surgery. his knowing my condition he presented cheque to bank without telling me and in the bank insufficient cash the cheque get bounce. so keeping this reason his telling me to re-register site to his name and he will pay the 600000 lack back to me otherwise he will going to file the case against me (keeping cheque bounce slip)and he saying he will take back the site without paying any amount to me, because his intention is to take back the site to his name. now the market value of that site is 1200000 lacks. so I request please advice on this anybody, thank you, deepu
R.R. KRISHNAA
(Expert) 23 April 2010
Since the balance amount is not paid the owner says you to return the site, it is quite right on the part of the owner.
The owner is also right in saying to lodge case against you as the cheque is bounced. I dont find any wrong on the part of the owner of the site.
I suggest you to negotiate with the owner and request him to give you sometime to pay the balance otherwise return the site to him and get back your 600000.
Deepu
(Querist) 23 April 2010
Thank you for your kind information sir, actually I am ready to pay now 100000 lack but he saying that already he filed the case, against cheque bouncing. he want to send notice to me regarding this. actually is intention is to take back the site to his name and he want to sell more value for the same, Is it possible what he things, please advice for the same, thank you, deepu
Raj Kumar Makkad
(Expert) 23 April 2010
arrange the balance amount and take the possession. You can repay the loan amount by selling the property at much higher raters after getting possession from him. So it is in your interest to immediately take some loans from sources available to you.
B K Raghavendra Rao
(Expert) 25 April 2010
If you are ready to pay the balance amount of Rs. 1 lakh, you may do so at the court. The court would not penalise you. Appear before the court on the first date of hearing and make payment, the court would record the payment and dismiss the complaint. Your problem would be solved for better.
Deepu
(Querist) 26 April 2010
Thank you sir,
Deepu
(Querist) 11 May 2010
Hi sir,
i have one concern with my property i have recently purchased one site with an agreement saying that the part of the site value amt paying in advance and the remaining amt paying in the period of six months and now I registered my site and i paid full and final value of the site amount to the land owner. and i received original site register paper in sub-register office and i am in the position in the site. so please advice for the same that do i need to take any signature from the vender that i paid full and final amt to the vender.
