anil kumar singh 21 October 2018

purchase of property

My wife and daughter entered to an agreement on Rs. 100 stamp paper with a lady duly notarized for purchase of house with time limit of 45 days. With in 45 days my daughter's husband asked the brother of the lady for registry of house giving 3 days time. the entire deal is handling by the brother of lady only. The brother of lady refused to present on the day of registry. after that my wife got seriously sick with gall bladder cancer and she was admitted in hospital for operation. during her stay in hospital only we again approached to the brother of lady and get extended the validity of the agreement for further 1 months as well as added the name of my daughter's husband also in purchaser names. My daughter has applied for a loan through a bank. Earlier loan was approved against the application by husband of my daughter by his employer firm but during hospitalization of my wife due to company's internal problems company has refused the loan. Now if my daughter is not getting the loan within the time limit or her loan is not sanctioned/approved and lady refuses for registry of house, can my wife get the refund of Rs. 5 lacs which she had paid to lady as an advance at the time of initial agreement. There is one clause in agreement which says if loan is not approved or sanction, seller will refund the advance amount.

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4 Replies

Adv Deepak Joshi +917017821512 (Advocate) 21 October 2018

Dear querist,

Yes, your wife can get refund of Rs 5lac.

In case they are not cooperating in amicable manner then serve legal notice.

Regards

Deepak Joshi & Associates

Mb/whatsapp +919456777600

Djaa.legal@gmail.com

anil kumar singh 21 October 2018

Thanks Joshi Sahab. Is legal notice to be served within agreement time limit or it can be served later also.

manoj 21 October 2018

In your case loan is santioned but it takes some time, you ask the land lady to extended for a further period, so that after getting loan sanctioned you can get registered the property by paying balance amount. As per the clause in the agreement if the loan is not sanctioned the adavance money will be refunded. So there is a clause to refund the money. you can straightly ask the vendor to refund the advance money since explaining the situation. Even if there is no clasue for refund of advance money, as per supreme court guidelines the refund of advance money limitation is 12 years, so you can file suit within 12 years to get your money. It is my opinion.

V E MANOJ KUMAR B.B.A, M.B.A., L.LB.,

ADVOCATE

CELL NO 86 86 15 92 92

anil kumar singh 21 October 2018

Thanks Manoj Sir. Loan was sanctioned and the firm was ready to pay but when we called vendor for registration, the brother of vendor denied saying that he will not be available at that time. After that my wife was hospitalized and due to internal problems within firm they have denied to disburse the loan. This loan was sanctioned against application of my son in law. Now my daughter has applied for loan and till date it is not sanctioned. The last date for registration as per extended agreement is 3rd of November. One another thing is there vendor is failed to provide the allotment letter of his house and the bank is asking for that.