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Simran (none)     18 August 2018

Want to stop a cheque - consequences?

We are in the process of buying a flat in Bangalore.

We have issued a post-dated cheque as token amount to the seller and got the xerox copy of his flat's agreement. There are no documents signed bewteen us, however we did mention the flat address on back of the cheque for safety. We have the xerox copy of the same with us.

When it was showed to our lawer there are some irregularities, which needs to be resolved first from the buyers end and it may take a couple of weeks time atleast. We have requested the buyer to not deposit the cheque until everything is sorted out from his end which he has agreed. The buyer has engaged a lawyer and a CA to carry out the needful to sort out his property documents.

We are still interested to buy this property but due to these minor hiccups in their title, we have now also started looking for other opportunities in the property market. So that just incase if it takes longer than expected we are not kept held up and miss better opportunities.

If we find another better deal and want to go ahead with the new deal and if the 1st buyer refuses to return our token amount cheque, can we go ahead with stop cheque payment option? Can the seller file any case against us for stop payment?

Thanks for your advise.



Learning

 1 Replies

Adv Deepak Joshi +917017821512 (Advocate)     18 August 2018

Dear querist,

 

You may send legal notice to the seller giving some time frame like a month or something to clear all the issues relating to title.

 

Also mention if seller is unable to clear those issues you will cancel deal and want your cheque given as token for deal back.

 

As at the time of deal you where told by the seller that there is no issue with the property and considering seller words you entered into deal.

 

Thanks and Regards

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600


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