Do not hand over the possession to him until u realize the full amount.

Better u had sent him legal notice for the cancellation of the deal and the return of amount

1) try to take promissory note against the deal which is cancelled and which never ever took place and nor registered. So before vacating the flat and giving him possession. If he gives all money well and good other wise take promissory note.

Hello dhaval, there is no need to send legal notice as suggested by some lawyer.. Since he has accepted to pay you the entire amount Back and a settlement has already been made ..if you fear , about the money it is advisable that he provides you a demand draft instead of cheque to secure your payment ... I suggest you to make a MOU ( memorandum of understanding ) fby mentioning the perticular conditions involved ... The cheque can be dishonoured or he can make a stop payment but DD is secured way of payment .. If he violates MOU , he will be liable of criminal offence and a FIR under cheating and criminal breach of trust can be lodged against him under 420 , 406 IPC ..

Yes u can send legal notice.

Do not hand over the possession unless the amount is retrieved.

Yes send legal notice demanding him the money.

Don't give possession till you get your money. Once you leave the possession you may not get money.

1) possession and return of money should be done simultaneously

2) dont give him possession unless he refunds your money

3) there is no guarantee that if you deliver possession that seller would refund your money

dont send any legal notice

2) he has agreed in writing to return your money on delivery of possession

3) only insist that both should be done simultaneously

1. The transaction of sale is not complete unless a registered sale deed is executed by the seller in favour of the buyer.

2. It seems that an agreement to sell alone was made between you and the seller, and thereafter a mutual cancellation agreement was also executed between both of you.

3. The cancellation deed is not required to be registered.

4. Delivery of possession should coincide with refund of the money paid by you, else he may take the possession and not pay the money.

If the cancellation deed has been mutually executed then no legal notice is required to be sent to him now. Just tell him that you will deliver the keys of the property when the amount is refunded.

Dear,

The stamp paper that you signed needs to be perused first in order to render proper advice. However, send a legal notice to your colleague and state that as he cancelled the deal and only on his insistence, you accepted his condition of vacating the house after paying him 15 lakhs and signed the stamp paper and ask him to pay the money on the date of vacating the property. If he plays any game, approach the jurisdictional civil court and file a case against him for the recovery of money.

Test

Have you entered into any registered sale agreement with him?

If not, do you have any record for the money transaction with him i.e., the details of the money transferred to him?

Did he give the property documents to you while handing over possession?

What are the contents of the stamp paper deed about returning the money, is there any terms and conditions mentioned i it?

you can demand a post date cheque to that amount besides the agreement to return the amount on that date with the reasons for return of that amount properly mentioned in it with two witnesses attesting the contents and the agreement to return the amount duly notarised.

If he is agreeing for this, then after obtaining it, you may deliver vacant possession of his house property.

but i had not made any agreement when i have purchased that. So still can i send him a legal notice for cancel the deal and money back?

Based on the oral agreement and the money transfer/transaction details, you can issue a legal notice communicating your decision to cancel the agreement of sale and demand the return of the amount you have given it to him till date.

In that stamp paper they have mentioned that he will pay money on that date and i have to give him empty house possession so should i do that?

Then you can communicate in writing that you will deliver vacant possession of the house property on a stipulated date and can demand them to return the amount at that time without fail.

I have signed on that stamp paper. So now i will tell him that give me money back first then i will give you possession but will he raise that stamp paper for that. then can we do anything in that?

Dont complicate the things when they are still in a simplified stage.

You may decide wisely based on the basis of the prevailing situation.

So i want to ask you that before taking money should i give him a home possession and should i do home empty before taking money? As it is not registered, take the cash in full before handing over the possession.

am afraid that if i will empty house before that date and then after he will refuse to return money then i think we can't do anything on him. -- Cash in right hand, keys in left hand.

Okay sir but i had not made any agreement when i have purchased that. So still can i send him a legal notice for cancel the deal and money back? Would lead to issues as it is not registered. If he is really intent to pay you the money, don't spoil by sending such notices. Tell him politely that cash in the right hand and take keys from my left hand.

1.You shall have no legal recourse to get your money if he refuses to pay after taking possession of his house from you.

2. You can tell him that your leaving the property and his paying you Rs.15 lakhs through DD can be done together.

1. You have no agreement for sale legally executed by you for which sending him legal notice will be of no use.

2. You should vacate the said house and get the DD at the same time otherwise there is every possibility of his refusing to pay you the said amount after taking possession of his house from you and in that case it will not be possible for you to get back possession of his said house.

3. So, your vacating the house and his paying you the DD should take place at the same time.

The suit itself is being filed for recovery, if he refuses to pay then the law will take its course.

You have to fight it out properly.

1. If he does not pay you back your money, you do not return his house.

2. You both have cancelled the deal by writing on stamp paper based on which you can file a suit claiming return of the amount paid by you.

3., However, it will be ideal if you can make him agreeing to the proposal of handing over the DD of Rs.15 lakhs to you in one hand and take the letter of returning him the possession to him on the other hand which will be followed by your vacating his house immediately.

You can very well file a money recovery suit if you have legally valid documents to prove that you paid him Rs. 16 lakhs.

However please remember that the court fee, lawyer's fee, time, energy and other incidentals may take toll on you.

The court case may take a very long time say at least two to three years to get disposed, hence you can decide judiciously.

1. Since he has not complied with the terms of the agreement of returning Rs.15 lakhs, you entered in to two years back, you can cancel the said agreement and file a suit claiming the entire amount paid by you with interest, damage and cost.

2. File a Money Suit claiming return of Rs.16 lakhs with interest from the date of its payment, damage and cost.

There is no guarantee in litigation

You should get Rs 15 lakhs as per agreement signed by seller

There is no evidence of Rs 16 lakhs paid by you

You would be able to recover Rs 15 lakhs

Yes 200% sure u will get ur money back

First try all your options of getting money back. But remember one thing the limitation to file the suit should not end. When you feel you don't have any option then file suit. No one can guarantee you that you will win or not but you don't have any option other than taking legal remedy.

1. If you file the suit then the court will decide the suit on merits. A legal proceeding is a game of uncertainty, there can be no 100% surety of the outcome.

2. The cancellation deed is not required to be on a stamp paper and it is also not required to be registered.