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Hardeep Singh   11 June 2024

Heavy deposit


I am currently staying on heavy deposit and the owner has sold the flat with my agreement and the new owner is agreeing to develop a new heavy deposit agreement with me on the same property but he is asking the entire deposit money in advance so that he can pay the previous owner and then he will after registration is done on his name will develop the heavy deposit agreement with me.

Is there anyway I can bind him for the money and agreement before I give him money for surity like a affidavit or something?


 3 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     11 June 2024

There is no legal issue  I have found in your query.  You ask your present owner to return your deposit money and you may choose another flat. 

Hardeep Singh   11 June 2024

The query is that I am the one taking the flat again on heavy deposit from the new owner. 

The new owner is asking me to give him the entire deposit money before he gets the flat registered on his name and then once flat is registered on his name (the new owner wants to use this money as part of payment to old owner) then after 15 days when the flat is registered on his name he will make a new heavy deposit agreement with me.

T. Kalaiselvan, Advocate (Advocate)     11 June 2024

If you are not comfortable with the conditions imposed by new owner,  you can refuse and demand repayment of your deposit amount. 

There is no legal solution for this except your own decision. 

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