Ashish (engg) 14 April 2012

Mou for resale flat

Hi All,

I need some guidence. I made and MOU with seller for one of the property in Pune. In MOU, as a token amount, I have given 1 lakh rupees cheque with all cheque details. The MOU is dualy signed by myself and seller and noterised. Seler also gave me receipt of my token amount adding clause subject to realizsation of cheque. After few days seller wants more money and telling that, MOU is not valid until I drop cheque in bank. I have enough money in bank but he is not droping cheque to realised it.

Could you please tell me, Is still MOU in live even if cheque is not realised? I have receipt with revenue stamp that seller received cheque but one clause subject to realisation.

-Ashish

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3 Replies

Navaneetha Krishnan (Junior lawyer) 17 April 2012

yes the mou is valid .....pls confirm whether you have mentioned the date in the cheque.... if you have mentioned the date then the seller has to deposit the same within three from that date. So it is his duty to present the cheque and if he fails then he has comitted breach as per the mou.... so at that stage you have a valid ground to challenge it in the court by all means....

Ashish (engg) 17 April 2012

Hi Navaneetha,

Yes, Date is mentioned in cheque. Now after 7 days also he did not deposited cheque even i have maintained enough balance in my account. I have checked with one the lawyer and he said, if he not received any money in his account MOU is dead. He should drop cheque first to make things work according to MOU.

K. GOPALAKRISHNAN (ADVOCATE) 18 April 2012

Dear Ashish,

Do not withdraw the amount from the bank. Keep and maintain the balance i.e., equivaluent to the amount of the cheque you have given to your seller atleast for 3 months from the date of the cheque. The seller might have take the chance of bouncing your cheque and seek chance to rescind / cancel the sale agreement. It seems that the seller might have got some higher offer for the property than yours. Kindly let me know the time agreed on the sale agreement for completion of the transaction. Have you include any forfeiture clause or penalty clause for non-fulfillment of the terms and conditions of the contract etc.,