#Property Disputes

[nithya-r]

How to Recover Your Token Money After a Property Sale Cancellation

When a property sale is cancelled, one of the biggest concerns is the token amount (also known as token money). This small deposit is often paid by a buyer to show their commitment to purchasing a property. But what happens to this amount if the deal falls through?

Here’s a simple breakdown of what you need to know about token money and how to recover it:

What is Token Money?

Token money is a deposit made by the buyer to show they’re serious about buying a property. It’s typically a small percentage (1% to 5%) of the property price, paid upfront, sometimes before any formal agreement is signed. It’s often seen as a sign of good faith from the buyer.

Is Token Money Refundable?

The answer depends on who cancels the deal and the reason behind it.

When the Buyer Cancels:

If the buyer cancels the sale for a valid reason (like financial issues or unforeseen emergencies), the builder might refund the token amount. However, the builder may still deduct a small penalty (5%-10%).

If the buyer cancels the deal without a valid reason (for example, choosing another property), the builder can charge a higher penalty. In some cases, they may even keep the entire token amount.

When the Builder Cancels:

If the builder cancels the deal or fails to fulfil their part of the agreement (like delays or not following through with the promised terms), the buyer is usually entitled to a full refund of the token amount.

Legal Steps to Recover Token Money

If you’re struggling to get your token money back, here’s what you can do:

Send a Legal Notice:Start by sending a formal notice to the seller or builder. This letter should explain why you're cancelling the deal and request your token money back. Make sure it’s sent in a way that confirms receipt (like registered mail).

Approach RERA or Consumer Court:If the builder refuses to refund your token money, you can file a complaint with RERA (Real Estate Regulatory Authority) or take the matter to Consumer Court. These platforms are designed to handle property disputes and can help you recover your money.

File a Lawsuit:If the builder is in breach of contract (for example, failing to deliver the property or meet the agreed terms), you can file a lawsuit in civil court. A successful case may result in a full refund and even compensation.

Legal Framework

Token money issues are governed by contract laws and regulations like RERA. Under RERA, both buyers and builders have legal obligations. If either party breaks the agreement, there could be penalties, including the refund of the token amount.

How Zolvit Can Help You

Disputes over token money can be tricky, but you don’t have to face them alone. Zolvit property lawyer can assist you in the following ways:

Legal Advice: Our experts will guide you through the process and assess if you're entitled to a refund.

Contract Review: We’ll look over your sale agreement or cancellation deed to make sure your rights are protected.

Dispute Resolution: If needed, we’ll file complaints with RERA or represent you in court to help recover your money.

Don’t let property transaction disputes stress you out. Reach out to Zolvit today for expert assistance in recovering your token money and protecting your rights.

[saraolaw]

Your Budget-Friendly Real Estate Legal Partner: Economical Real Estate Lawyer | Sarao Law

Understanding the intricacies of real estate law can be difficult, but it doesn't have to be expensive. SARAO LAW provides economical real estate lawyer services in Canada that are both affordable and effective.

Why Choose Sarao Law?

Competitive Rates: We offer competitive rates without compromising on quality.

Experienced Lawyers: Our team of skilled lawyers have a deep understanding of real estate law.

Personalized legal advice: We tailor our services to your specific needs and budget.

Efficient and Timely Service: We prioritize your deadlines and work diligently to meet your time-sensitive needs.

Our real estate law services:

Real Estate Transactions:

Purchase and sale agreement Title search and property due diligence Closing and settlement services

Real Estate Litigation:

Property disputes border dispute Action of eviction

Real Estate Development:

Zoning and land use regulations Development agreement Construction contract

Real Estate Finance:

Mortgage financing Loan documents kept suspended

Contact SARAO LAW today

Don't let legal costs limit your real estate aspirations. Contact SARAO LAW today to schedule a consultation and discuss your legal needs.

[headlinehive]

Widow loses life savings after ‘firetrap’ developer fails to repay €150k loan

A controversial developer who asked to borrow the life savings of an 81-year-old widow has failed to repay the money after half a decade of broken promises.

In 2017, the widow gave €160,000 in cash to developer Paddy Byrne, who built the Millfield Manor estate in Co. Kildare where six houses burnt to the ground in under 30 minutes in 2015.

After the widow entrusted €160,000 of her life savings to developer Paddy Byrne in 2017, expecting the money to be repaid, she has been left in a troubling situation. For five years, Byrne has failed to return the money, offering only broken promises and no tangible action to settle the debt. This has only compounded concerns surrounding Byrne, who is also known for constructing the ill-fated Millfield Manor estate in Co. Kildare, where a fire in 2015 devastated six homes in under 30 minutes.

The widow's case has become emblematic of a broader frustration with Byrne’s alleged unethical practices, raising alarms within the community about the risks posed by developers who fail to uphold their commitments. Despite the widow’s efforts to seek justice, Byrne's lack of response reflects a deeper issue of accountability in the property sector, particularly when it comes to protecting vulnerable individuals like the elderly.

[raizadalaw]

How to Find the Right Attorney for Your Property Dispute

Finding the right attorney for a property dispute can be challenging. This article simplifies the process by highlighting the essential qualities to look for in a property lawyer, how to evaluate their experience, and tips for making an informed decision. With the right legal support, you can confidently protect your property rights.

Read more :https://medium.com/@raizadalawassociates1/how-to-find-the-right-attorney-for-your-property-dispute-3521672a3527

[lexlawuk]

Challenging Possession of Property by Fixed Charge LPA Receivers

Fixed charge receivership is an important debt recovery tool for creditors in England & Wales, offering a legal avenue to reclaim outstanding debts secured against specific assets. The appointment of LPA Receivers often sparks debate surrounding property rights and debtor protections. In this article, we look at the legal landscape of fixed charge receivership in the UK, exploring its statutory…

[lmplaw]

What is real estate litigation?

As described in the article, real estate litigation involves a wide range of legal conflicts involving real property. These conflicts can range from disagreements during property acquisitions to disagreements over ownership rights and issues such as border disputes, title faults, and environmental concerns.

Read more...

[lawofficeofryansshipp]

West Palm Beach Real Estate Attorneys | 561.699.0399

West Palm Beach Real Estate Attorneys The Role Of A West Palm Beach Real Estate Attorney If you’re thinking of buying or selling a property in West Palm Beach or Florida, you might be feeling overwhelmed with all the legal jargon and paperwork involved. That’s where a real estate attorney comes in. They can guide you through the complex process and make sure everything is done legally and to your…

[propertyexperttips]

PROPERTY DISPUTES IN INDIA

India has a large number of pending property disputes, solving such cases can take a long time upto 6 months to 15 years. Such disputes can arise due to family members and sellers/purchasers of land and even landlord and tenant.

The act that governs such property disputes is the Transfer of Property Act. The act governs the transfer of property in India and forms the legal basis for determining and resolving disputes.

In India, property disputes can be resolved through the following two ways – 

1. Settlement – 

You can choose to settle to resolve the disputes through settlement if family members are involved in the property dispute. The settlement involves all the stakeholders sitting across the table and mutually deciding how the assets would be divided. Such saves the cost of hiring a lawyer and court expenses. 

2. Litigation – 

It is nothing but approaching the courts to resolve property disputes. This involves lawyers, court costs, and more often than not substantial amount of delay. It involves court processes and procedures and may take a long time to resolve the dispute. It is advised to go for litigation only if you have all the documents, including the title deed, and your lawyer advises you that have a strong chance to win. 

It advised to hire a lawyer or attorney or a legal adviser before taking any of the steps in order to get rid of such property frauds and avoiding long tenure of court proceedings and secure your rights in the property.

However, settlement seems to be a silent way of undoing such frauds without any hassles and long waiting period.

[saraolaw]

Fast-Track Your Real Estate Goals: Priority Real Estate Lawyer Service | Sarao Law

In today's fast-paced world, time is a precious asset. When it comes to your real estate needs, you need a law firm that understands the importance of efficiency and speed. SARAO LAW provides priority real estate lawyer service designed to expedite your real estate transaction in Canada.

Why Choose Sarao Law?

Dedicated Real Estate Team: Our experienced real estate attorneys are committed to providing exceptional legal services.

Prompt and efficient service: We prioritize your deadlines and work diligently to meet your time-sensitive needs.

Personalized Legal Advice: Our lawyers take the time to understand your unique circumstances and provide customized legal solutions.

Affordable Solutions: We offer competitive rates without compromising on quality.

Our real estate law services:

Real Estate Transactions: Purchase and sale agreement Title search and property due diligence Closing and settlement services

Real Estate Litigation: Property disputes border dispute Action of eviction

Real Estate Development: Zoning and land use regulations Development agreement Construction contract

Real Estate Finance: Mortgage financing Loan documents kept suspended

Contact SARAO LAW today

Don't let legal delays get in the way of your real estate goals. Contact SARAO LAW today to schedule a consultation and experience our premium real estate attorney service.

[wevaad]

Online Dispute Resolution

[alwaysbewoke]

[fullyfazed]

Some older sketches of Hick

[nordfjording]

once when i lived in the south of norway i ended up in a discussion with friends from the southeast (relatively flat area) because their idea of a 'bad road' was a winding road so when i complained about roads in the west being bad they thought i meant there were a lot of turns. and i had to tell them about when someone in my home town owned a shire horse that caused municipal govt a lot of trouble because when the horse walked on public roads the asphalt would crack and crumble bc the ground was too soft to support the weight.

so yknow. we live in different contexts i guess.

[buzzblend]

Widow loses life savings after ‘firetrap’ developer fails to repay €150k loan

A controversial developer who asked to borrow the life savings of an 81-year-old widow has failed to repay the money after half a decade of broken promises.

In 2017, the widow gave €160,000 in cash to developer Paddy Byrne, who built the Millfield Manor estate in Co. Kildare where six houses burnt to the ground in under 30 minutes in 2015.

The cash was for a penthouse apartment in Dublin she planned to move into.

The development was built by Victoria Homes, a company that was established by Mr Byrne’s sister Joan just before Mr Byrne was precluded from acting as a company director in Ireland for five years.

After viewing plans for the €630,000 property, in a development called Greygates in Mount Merrion, the pensioner withdrew the cash from her bank and gave it to Mr Byrne.

Some €10,000 of this was a deposit, with the remaining €150,000 provided on the advice of a third party who was known to Mr Byrne and the widow, who said the cash would secure a good price.

According to a handwritten receipt, signed by Mr Byrne, the money was provided on May 29, 2017.

But in November 2017 the widow, a retired primary school teacher, found a more suitable home and asked for her money back.

Mr Byrne agreed to this, saying he would have no problem selling the penthouse and promptly refunded the €10,000 deposit.

However, he asked that the remaining €150,000 be treated as a 14-month loan and promised to pay a 10% annual interest rate.

This effectively turned the widow into an unwitting creditor of Victoria Homes.

According to a handwritten agreement, signed by Mr Byrne, the loan was to be ‘paid back from the sales proceeds’ of the penthouse at his Greygates development.

More than half a decade later, the loan remains unpaid – even after the widow made a criminal complaint to gardaí and took legal action to secure a judgement.

As it is a civil matter, the Garda investigation faltered. And because various other unpaid creditors had previously secured judgements against Victoria Homes, the widow is now unlikely to get her savings back. During the Celtic Tiger years, Paddy Byrne was renowned for his €2.4m Sikorsky helicopter and sponsorship of the Irish National Hunt festival.

But in 2011 his then-firm, Barrack Homes, went bust and Mr Byrne declared bankruptcy in Britain with debts of €100m.

He was banned from acting as a UK director for 10 years in 2012.

This ban was scheduled to end in 2022 – and ran the full course – but it only applied in the UK and Wales.

According to the UK insolvency register today, Mr Byrne’s discharge from UK bankruptcy is ‘suspended indefinitely’ until the fulfilment of conditions made in a 2012 court order.

Separately, in Ireland, he was also restricted from acting as a director for a period of five years – which ended in January 2018.

Mr Byrne is also known for building the Millfield Manor estate in Newbridge, Co. Kildare, where half a dozen houses were razed to the ground within 30 minutes in 2015.

A report into the blaze found ‘major and life-threatening serious shortfalls and discrepancies and deviations from the minimum requirements of the national mandatory building regulations’ at Mr Byrne’s development.

Today, having exited bankruptcy, Mr Byrne is best known as the figurehead behind Victoria Homes and associated businesses, which was set up by his sister and her husband in December 2012, while he was bankrupt.

Mr Byrne was not a director or owner of Victoria Homes during the period of his bankruptcy. But, in 2017, Mr Byrne’s sister and her husband stepped back from Victoria Homes, transferring their shares to an offshore entity in Belize city called Victoria Holdings.

In November 2022, the main lenders to Victoria Homes – the Lotus Development Group – forced the firm into receivership for the second time.

In 2020, Lotus had forced a previous short-lived receivership before agreeing a deal that saw Victoria Homes begin trading normally once more.

Today, Mr Byrne appears to have left Victoria Homes behind and seems to be focusing on a new firm instead.

Set up in the summer of 2020, Branach Developments is entirely owned by Mr Byrne and is not encumbered by any bank debt or mortgages as Victoria Homes was.

According to the latest filed accounts, for the year ended 2021, Branach Developments held ‘tangible assets’ of €210,000 and ‘stocks’ of €600,000.

The accounts also show that, in 2021, Mr Byrne provided the company with an interest-free loan of €1,024,438.

Just last week Mr Byrne’s new firm was one of the winners at the National Property Awards sponsored by the Business Post and Deloitte, among others.

At the award ceremony, Branach Developments took home the prize for best sustainability initiative of the year.

However, Mr Byrne, who shuns publicity and is rarely photographed, does not appear to have attended the ceremony and the award was accepted by a colleague.

This week the Irish Mail on Sunday sent queries to Mr Byrne via his mobile phone, his email at Victoria Homes and his email at Branach Developments, without response.

Queries to his solicitor and the separate accountancy firms representing Victoria Homes and Branach Developments also went unanswered as did calls to the numbers on the websites of these firms.

Mr Byrne also previously declined to respond to questions from the MoS relating to the establishment of Victoria Homes during the period of his bankruptcy.

At the time, Mr Byrne appeared to be living at Ballinrahin House, close to Rathangan on the border of Offaly and Kildare.

The home is a luxury build on 26 acres of stud-railed paddocks with six stables and a 1.3km tree-lined avenue behind electric gates.

The property was on sale for €2.8m in 2009, but land registry records confirm that, in November 2014, it was sold to Victoria Homes for a knockdown price of €484,000.

Ownership of Ballinrahin House was transferred offshore to Victoria Holdings in Belize on April 10, 2018, just weeks before Mr Byrne was due to repay the €150,000 back to the widow.