I received ₹55,000 in cash as a token amount for two plots of land. I wrote “token advance towards sale consideration of…” on a plain paper and signed it. We had only verbal agreements about the sale. Now, I want to back out of the deal and offered to return the money. But the seller refused and sent me a legal notice claiming an agreement exists. What are my options? Is that plain paper legally binding? Can he pay stamp duty later to make it official?

Apni Law
Apni Law
Law Forum › Category: Property › I received ₹55,000 in cash as a token amount for two plots of land. I wrote “token advance towards sale consideration of…” on a plain paper and signed it. We had only verbal agreements about the sale. Now, I want to back out of the deal and offered to return the money. But the seller refused and sent me a legal notice claiming an agreement exists. What are my options? Is that plain paper legally binding? Can he pay stamp duty later to make it official?
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Apni Law Staff asked 6 months ago

I received ₹55,000 in cash as a token amount for two plots of land. I wrote “token advance towards sale consideration of…” on a plain paper and signed it. We had only verbal agreements about the sale. Now, I want to back out of the deal and offered to return the money. But the seller refused and sent me a legal notice claiming an agreement exists. What are my options? Is that plain paper legally binding? Can he pay stamp duty later to make it official?

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Best Answer

Apni Law Staff answered 6 months ago

The plain paper document, even with your signature, might not be legally binding as it lacks proper legal stamp duty. The verbal agreement also lacks legal enforceability. However, the seller could attempt to prove the agreement based on the payment and your written acknowledgment. Your best option is to seek legal advice and potentially negotiate with the seller to resolve the situation amicably.

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