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The owner of the house has received an advance of 1 lakh rupees from the buyer for the sale of the house and signed an e-stamp agreement notarized, stating that the buyer does not want the house and the money will not be refunded. However, the house has a 25 lakh bank loan. If the buyer asks for the money back, the owner refuses to return it. Is it a crime to accept an advance of 1 lakh for selling a house with an outstanding bank loan without informing the bank and getting its consent? When I went to the police station, the PSI wrote and signed a statement on behalf of the owner stating that they did not give any support. Is it valid to accept an advance for selling the house without bank loan approval? If not, how can the buyer recover the 1 lakh advance?
Sir, selling a mortgaged house without informing the bank and getting consent is legally invalid. The buyer can file a civil suit for recovery of the 1 lakh advance for breach of contract. The buyer should gather all related documents and seek legal counsel. Police involvement is not typically applicable in civil matters, unless fraud is proven. It is advised to consult an expert lawyer who will assist you with the best course of action. For further legal assistance contact us on our helpline number.