Saurabh (---) 09 July 2012

Bayana recovery

Hi My Father has given a bayana of 5 lakhs Rs for buying plot of land in delhi to a Property agent, where he has to pay remaining 48 lakhs in 2 months time, now due to some problem we are not able to arrange the funds, we approached property agent for increasing the date of buying he refused to do that and he is saying that if you dont buy the property on the due date your bayana will finish, Is there any way to get the date extended for payment or get back the bayana? what we have to do .

Thanks in advance.

Saurabh

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2 Replies

Pradeep Kumar (Lawyer) 10 July 2012

Dear Sir,

Once you have paid earnest money and due to some problem you failed to arrange funds,you can proceed to Registrar office and mark your presence there.You also require to send the legal notice to the seller for extending the date of Bayana((earnest money).The validity of this agreement is for 3 years. So you have all the time to arrange funds and get this agreement executed.As far as money recovery is concerned,you can always file a recovery suit in the court.

Thanks.

Adv.Pradeep Kumar

09871765000

www.pradlaw.com

harish (Advocate) 16 July 2012

Once you have paid earnest token money, immediately execute a receipt of token money duly acknowledge by the seller on a stamp paper or cash/cheque receipt signed on revenue stamp as and by way of token money paid to the seller and if due to some financial problem you failed to arrange funds,you can intimate the seller in writing through registered post and /or You also require to send the legal notice to the seller either for extending the date of Bayana((earnest money) or refund the token money due to some inevitable problems .The validity of this receipt of token money and for its recovery is for 3 years from the date of sending the legal notice in either cases. So you have all the time either to arrange funds and get this agreement executed or file a civil suit for recovery of amount in appropriate court 3 years from the date of sending the legal notice by paying requisite court fees. the seller cannot easily swallow the money paid by yiou, take recourse of the court. As far as money recovery is concerned,you can always file a recovery suit in the court.