Mumbai | 28 Apr, 2021 (4 months, 3 weeks ago)

Property Law

Heavy Deposit Flat Dispute

Hello, I have one concern related towards rented property. Kindly assist me. I have took one property on heavy deposit. Heavy deposit means I have paid 5 lac to owner and after the end of agreement I have to vacant the property and owner would be refunding back me complete amount as paid. Apart from this I am not liable to pay any monthly rent or anything.(PS - In Rent Agrrement it's written that I have to pay 1rs. Rent) The interest of the heavy money paid adjusts the monthly rent or so. Now here owner and I have been made Leave and License agreement for the tenure of 33 months. Everything was fine but one issue came up. Recently few bank people came at door step and have given some Symbolic Possession Notice to me which is meant for the owner. Owner has failed to pay his regular EMI from past one year. Now my question is 1) What is this Symbolic Possession? 2) Simple Question, Will I get my money back or not? 3) Can Bank have legal rights to force me out of the property? 4) Does Bank would be liable to pay me my heavy deposit amount of 5 lakh? 5) Incase if above answers are No, what would be the preferable option to get my money back?
Answers
29 Apr, 2021 | 23:57

You can send me the soft copy of the tenancy agreement over email or whatsapp to understand the intricacies involved and then I will be in a better position to comment or suggest you on legal remedies at your disposal. 9013429126
1. Symbolic possession when the possession is not taken in ground but established in law
2. Getting the money back will depend on the terms of the agreement but in equity you ought to get back the money
3. Yes bank absolutely have that right but under due process of law
4. No bank will never be liable for the money
5. From the landlord and therefore send me the copy of the agreement and other details


29 Apr, 2021 | 04:19

Good morning,
You're eligible to obtain the given security deposit from the landlord along with the appropriate interest and damages caused due to mental agony served by recovery agents, as usually in tenancy deed the liability with regards to ownership and risks involved with creating collateral charges on property fall upon the shoulders of the landlord, I am a High-court level Law-Practitioner based in Maharashtra, India, I try to empower people by helping them know about their legal rights as much as much as for free-under my capacity, if you did happen to like my answer you may procced to get the the Strong Legal Notice served on your landlord and bank jointly from my expertise, feel free to reach me out for further advise at yogeshtahiliani36@gmail.com; +91 7020479749
Have a lovely day.

REGARDS

__Adv. Yogesh Tahiliani
(BOMBAY HIGH COURT, NAGPUR BENCH)


28 Apr, 2021 | 17:54

Dear sir
See
This is a matter of Maharashtra Rent control Act
However
I would like to see tenancy deed then I can advise
If you want legal advise then you can call me on mobile no 9359867870
Advocate IRFAN SHAIKH


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