Token amount

Bony (Querist) 03 October 2016 This query is : Resolved
As a token amount i gave 100000 to the owner of property by agreeing that the title and the permission of the property is clear and then we have apply for loan and the lawyer of the bank said the property permission is rejected by corporation then after so loan can't sanction on this property so now we have canceled the deal beachase of that reason so are we suppose to reimburse whole amount from that owner-?
Regards,
Bony otawani

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Devajyoti Barman (Expert) 03 October 2016
Yes,since the owner has an defective title you have very right to cancel the deal and hence is entitled to full refund.

Kuummaar AS (Expert) 03 October 2016
YOU HAVE SAID

..... by agreeing that the title and the permission of the property is clear

THEN WHERE IS THE PROBLEM?

Bony (Querist) 03 October 2016
Mr devjayoti and if owner is refuse to make full payment because there is no legal validity or writing agreement between me and owner about that token money so what would be legal procedure for that

Bony (Querist) 03 October 2016
Mr. Kumar we have agreed because owner have said that permission of the construction has taken by the builer when building was contructed i.e. in 2010 but in 2013 the permission of construction was rejected by corporation and but it was acknowledge by us when we have give that file to the lawyer of the bank and and we have also confirmed by 2-3 more lawyers

Guest (Expert) 03 October 2016
You are entitled for refund.

Rajendra K Goyal (Expert) 03 October 2016
You have to go by the terms of the agreement to sale and cancellation clauses.

Show the document to local lawyer, send legal notice followed by suit for recovery.

Kumar Doab (Expert) 03 October 2016
You seem to be entitled for refund.

You have shown the said agreement to 2-3 lawyers.

What is their opinion after examining the T&C of the agreement.