Property stuck in sale

Hello Sir. I own a house in Mumbai, which I want to sell since 2012. In 2012, my friend (Mr. K) was interested to buy the same for 85 lakh Rupees. He immediately transferred an amount of 5 lakh Rupees to my account by online transfer. But till date, he has not able to purchase the flat as he doesn't have the balance money. We did not sign any agreement for selling the house, but there are few emails in which we discussed the sale and I acknowledged the token payment. I now have another serious buyer and he ready to buy the property by paying the full amount upfront. I am trying to return Mr. K’s money but he is refusing to take it back. He has also changed his bank, so I cannot just deposit the amount in his account. My question is that can Mr. K create any issue if I try to sell the property to the new buyer? Can he stop us from selling the house to somebody else even if I want to return the 5 lakh?

Expert Advice

I suggest you issue a notice/legal letter clarifying the return of the money to Mr.K along with a cross cheque/DD for the said amount in his favour. Since there was no agreement signed, you are free to conduct sale of the property for which you hold a clear title. From what you've mentioned, in my opinion Mr. K has accrued no right/title/interest in the property and thus cannot legally stop you from conducting sale of the property. Best of luck!

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