A contract is always with the revocation clause. 4) The seller cannot insist on the cash payment. Let the seller cancel the deal. If it terminates the contract, it should refund you the advance of rs 22 lakhs paid by you you must take precautions in the new agreement to get it clearly the subsequent payment of 10 lakes or more for sale in exchange and no serious money. 4) It should be cancelled in case the agreement 3 In general, there is no illegality if the seller loses some of the money from chips, if the agreement provides for it. Since there is little way to ensure the refund of the money from the chips, the buyer must keep the amount of the chips as low as possible and commit to a seller only after making all monetary arrangements to complete the transaction. For example, it may be risky to pay token money unless the bank has approved your home loan application. However, since this document has no legal validity, since it has not been registered, it is most often used as proof of payment and not as a legal document that can be presented to the courts in the event of a dispute. The buyer and seller enter into a registered contract only when the buyer pays at least 10% of the contract value and a construction/buyer contract or sales contract is signed between the two parties. See also: COVID-19: How to accept money from online tokens? 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.

1. The refund or sale of serious money is governed by the interim purchase contract between the seller and the potential buyer. If the contract requires forfeiture, the seller may let it expire, but the buyer is entitled to a full refund. There are no rules regarding the payment of money in real estate transactions. (a) Payment receipt: This is the most common way to pay the money from the chips. As token money is paid in the very short term, there is not much time left to close the legal documents. In the minds of both parties, there is concern that other parties will not withdraw from the agreement. Token Money is paid/received as collateral to complete the agreement. A proof of payment can be printed on 2 R of stamp paper or 10 Rs of stamp paper (depending on the state). The seller can register on Revenue Stamp to confirm receipt of payment. (c) Notarized Convention / MOU: Although it is not necessary to note the slack or agreement at the time of payment of symbolic money, but in my opinion it is advisable.

Notary only certify that all parties have signed before him. It protects a buyer`s interest to avoid litigation. In short, an agreement signed between the parties can be notarized in order to make it safer and more binding in every sense of the word. 1. The cancellation of serious money depends on the terms of the sales contract. How to pay token Money is the most frequently asked question by my clients. Since I keep pointing out that the money from the chips should be paid by the buyer as soon as he knows how he will organize the funds for the transaction. If buyers do not arrange the means, then stands to lose all the money of the chips.