Bayana बयाना ਬਿਆਨਾ
Bayana is token money, also called earnest money, paid in advance to hold a property until the main agreement is signed. It is usually handed over before anything has been drafted, so it is best recorded in a Bayana Rasid, a token receipt.
Also written as
- Baina
- Byana
- Bayana Rasid
- Token money
- Earnest money
- बयाना
- बयाना रसीद
- टोकन राशि
- अग्रिम राशि
- ਬਿਆਨਾ
- ਬਿਆਨਾ ਰਸੀਦ
- ਟੋਕਨ ਰਕਮ
- ਪੇਸ਼ਗੀ ਰਕਮ
What it's used for
- To hold a property, whether to buy it or to rent it, while the main agreement is still to be signed.
- A receipt should say what the money was for, by what date the main agreement must be signed, and who keeps the money if either side walks away.
- Write down what actually changed hands and keep the bank proof with the paper. In Chandigarh, the stamp duty on the Agreement to Sell that follows is worked out on the token money, not on the sale price.
- If you are paying a builder or promoter for a new or under-construction unit, a bayana receipt is the wrong paper. Ask for the allotment letter and the registered agreement for sale instead.
Which document you need
Pick the one that matches what you are doing.
Documents in the library
- Token Advance Receipt (Bayana Rasid)The token receipt: it records the money, what it was for and who keeps it if either side backs out.
- Agreement to Sell (Iqrarnama / Bayana)The Iqrarnama: it locks in the price and terms, and says what happens to the bayana if either side backs out.
- Part-Payment Receipt under an Agreement to SellA receipt for one part-payment of the price, with the running total and the balance.
- Refund of Earnest Money LetterRecords the return of the bayana once a proposed sale falls through.
- Notice of Forfeiture of Earnest MoneyThe seller's formal notice that a buyer's bayana is being forfeited.
- Legal Notice to Return Bayana (Earnest Money)Demands that a seller repay the bayana when a sale has failed.
Kits that cover it
Questions about Bayana
Is bayana the same as earnest money?
Yes. Bayana is the everyday word for the token money or earnest money paid to hold a property. The library lists its receipt as the Token Advance Receipt (Bayana Rasid).
Should I take a receipt when I pay bayana?
Yes. A bayana dispute is almost always one person's word against another's. A signed receipt, ideally with a witness and the bank proof kept alongside, is your evidence. The person who pays is entitled to ask for one.
Who keeps the bayana if the deal falls through?
That depends on what the two sides wrote down. The token receipt and the Agreement to Sell both record who keeps the money if either side backs out, so it is worth writing it down at the start.
Related words
This page explains the word in plain language for Punjab and Chandigarh. It is not legal advice. Fees, offices and time limits can change, so check with the office or an advocate before you act.