We have purchased flat in resale from the original buyer. The buyer has paid a fit out deposit to the builder as per the terms and conditions of the sale agreement. While, executing the resale agreement the buyer has transferred all the rights, titles, interests, deposits, membership, advance maintenance etc. to the sellers. We have carried out interiors as per the guidelines prescribed by the developers and on satisfactory inspection process, we applied for the refund of Fit-out deposit paid by the original buyer. After many attempts and rigorous follow up, to our horror the developer said they have already transferred Fit-out deposit money to the original buyer. We are following up with the original buyer but now he says he has right on Fit-out deposit and we can not claim it from them. The terms and conditions of the agreement clearly says everything is transferred to us. But the original buyer is not ready to part with deposit erroneously transferred to him. What is the legal position in this case and what are the ways to recover the said money? Experts help is solicited. For record, we have duly submitted all papers including agreement for sale and got no objection certificate from the developers to transfer the said flat in our name one and a half year back. Thanks and regards.
CAclubindia
