We have an ancestral property which we had put up for sale. We accepted a token amount against it around 18 months ago.
One of the heir who has equal share in the property accepted the token amount and signed the receipt. The receipt was a pail paper with a revenue stamp and mentioned that the token amout is against the sale of the flat (address mentioned) and the amount of the flat. There is no exit clause on that receipt.
The property is not transferred in the heirs name due to a pending court case against the property. However all the parties involved in the court dispute are no longer alive and their heirs want to settle the dispute amongst themselves and withdraw the case.
The property cannot be transferred to the heirs now due to the pending case. We are trying to withdraw the case. However the process is taking a long time.
Meanwhile the buyer said that he can try to get the case status etc and hence we handed him a photocopies of case papers.
Now its a long time an we have not been able to get the case cleared and hence cannot tranfer the property.
We now want to return the token amount to the buyer and have informed him so but he is unwilling to accept the token amount.
We are also ready to pay the interest amount and have conveyed the same to the buyer. But still he has not given a firm answer and is delaying the process. We also sent the money through registered Ad and it was returned back (no proper reason given).
How do we return the token amount to him? Also how to get the token receipt back?
Thanks.
