- This topic has 43 replies, 25 voices, and was last updated 1 year, 4 months ago by
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UAsk the account holder to cancel the check by asking the bank. Draw another cheque and act responsible next time.
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UI told a general way obviously there’ll other factors so you should act accordingly…. Provide him with a notice written or oral regarding the issue (it can be used as an evidence in the extreme case he refuses to draw another cheque). Anyways he cannot run away from the payment because it will reflect on his bank so don’t worry. Just try to peacefully settle the issue before it gets complicated.
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LAsk the buyer to reissue cheque. Cheque is not money, it is ‘bill of exchange’. It’s buyer’s obligation to pay.
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Gin the future, do not accept a cheque. you need to get a Demand Draft, and obviously keep it safe!
btw – could it be that the buyer arranged for the cheque to be “stolen”? If you suspect this, then lodge a complaint in the police station.
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IThis is sane advice .
A little story , we got a cheque when we sold property. Now we had presence of mind of get it encashed right away. The smartass seller had signed in english whereas his signature in bank were in hindi. Got saved lot of time and energy.
Ask him to give a DD this time .else get in touch with a lawyer, dont waste time
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P1. In a property transaction, the seller should accept only a demand draft on registration of the property as cheque can bounce.
2. For the initial payments of token and advance, cheque may be accepted.-
UI used to think the same but Try making a demand draft for lakhs and you ll know it is just not feasible.
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UTell him to make stop. payment of cheque and issue a fresh cheque immediately
If not go to police file
Fir
Maybe the buyer is also involved-
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UI asked him to block the cheque. Then he blocked the cheque. We changed the details of the cheque in registration. Then I took DD from him.
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UIsn’t the check details also mentioned in the sale Agreement?
I think there would be additional actions like getting the agreement updated once the new check is issued.
If you had an advocate who framed the agreement, then speak to him on the next steps. -
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UThe cheque is important for transactions if u have done an agreement. If that cheque is not encashed the agreement can become void.
Also, was the cheque a/c pay? Ur name was there? Or was it a bearer cheque (that would be a stupid mistake.). -
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SAs cheque issuer, I won’t issue a new cheque unless you file a lost FIR and share a court notarized indemnity affidavit.
The story doesn’t pass the smell test and there are just too many scams in property sales. -
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CIs this a hypothetical scenario because real estate transactions do not happen like the way you are describing.
You dont sign over the property until their the full payment has been made into an escrow account, or a demand draft is handed over during signatures. Cheque is usually for advances or partial payments, in which case you can obviously ask the buyer for it again and ask them to cancel the existing cheque.
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UThat’s not hypothetical I don’t know much about how transactions are done in real estate. I had this issue and I got really panicked. But after talking to the buyer the issue got resolved. My mother is going again to the registration office for changing cheque details or for getting new documents. Definitely he cancelled the cheque
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