Jameel MughalŪ replied on Thursday, September 15, 2016 01:14 PM
You are Lucky that market is cooling down otherwise you would be in trouble, Nothing can happen to your property as it is already been transferred, It is Dirty game Between the Owner and previous Biana Holder, Actually the Biana Holder must have not paid the agreed amount in due time, and your owner must have Forfeited some or all of biana amount. This Case best be solved out of court, Your legal Position is that you can file a 420 case on owner [why he sold Property when previous biana was not cancelled] or Put pressure on him that he should solve the issue out of Court. For example he did biana 10 Lac, he cant forfeit all 10 lac, even Court will also order something in between.
The negative side is if case prolongs many years the plot value will be higher and higher, The previous biana Holder's Position will be stronger.
Tell the owner that you intended to sell the plot when needed, because of you I am in Trouble you Finish the case otherwise I will go in court, Don't discuss your weakness etc with any one. Keep this Plot with you if price was good don't give back to owner as they will never compensate your transfer and 10% gain Tax cost,
I am not legal adviser you can discuss with some sincere Lawyer but don't get Panic. Because of recession your position is strongest.
I am hearing many of such disputes as Foolish dealers have done unrealistic bianas with Owners and unable to find seller with "Roti", It is advise to all Biana Holder, owners and Buyers. Nither Biana Holder have right to take all money back he should expect 2,3 Lac less. Nor Owner can forfeit all Biana money. Buyers should be very cautious that there was biana and write on stamp paper and ask seller also before deal. New seller should only sell to parties with cash transfer ie only 7,10 days transfer time.
And dealers/investors should forget Biana Game for a while untill market revives. |
