Determine the seller`s credibility before paying the token`s money, and avoid cash payments. If you pay the money from the token through the banking channels, the seller would not be able to prove anything else. (h) Death of a buyer/seller: If God forbids and something happens to the buyer or seller before the real estate agreement is concluded. In this case, the legal heirs of the buyer and seller should have the same rights as those of a buyer or seller. Either the money from the tokens is repaid or the agreement is made by legal heirs. This clause is insufficient if the interval between the signing of the agreement and the sale agreement is more than one month. See also: COVID-19: How to accept money from online tokens? There are no rules regarding the payment of money in real estate transactions. 2. In your case as the reason for the cancellation is the seller`s refusal to take money by check, it follows that there is no reluctance on your part to sell the agreement. As a result, you are entitled to a full refund. Serve the message of a lawyer to respect the agreement. You must make arrangements in the new agreement to be reached that it clearly determines the subsequent payment of 10 lakes or more for the sale consideration and no serious money.
Your serious money will be refunded if there is no clause containing this money. If you took the extension of time, then there is no need for a new agreement It would be great if we can download the agreement from here. Legal document generatoraffidavit Format I sent you a link from the SC judgment that clarifies most of your doubts in this case that «It is also the law that partial payment of the purchase price cannot expire unless it is a guarantee for the correct performance of the contract. In other words, if the payment is only made for the partial payment of the consideration and is not intended for serious money, then the expiry clause will not apply. Serious money is also a part of the amount of the sale consideration. 3) If you ever decide on a new agreement, you receive it designed by a local lawyer to protect your interests 3 In general, there is no illegality if the seller loses some of the money from chips, if the agreement provides for it. There are no fixed rules regarding the amount the buyer must pay to the seller, such as token money. This amount differs from case to case. «A buyer pays part of his down payment for the property like token money if he buys the property from a developer. So if a buyer plans to pay Rs 10 Lakhs out of pocket for the purchase of a property that is worth 50 Lakhs, he would usually give developer Rs 1 Lakh as tokens or booking amount,» says Gaurav Singhal, a Delhi-based real estate agent. .2.
Without seeing the sales contract, it is difficult to decide whether the seller can lose the money you paid.