Type of refusal
Non-delivery: what it is and what routes exist
You paid for an asset, property, shares, tokens, and the counterparty never transferred it. No refund, no title, no explanation that holds up. Legally this is non-delivery: a breach of the obligation to transfer, separate from a plain payment default. The remedy depends on what was promised and which law governs the deal.
What this is legally
Non-delivery arises when a contract obliges one party to transfer an asset, title to property, shares, tokens, fund units, and that party keeps the consideration without performing. It is a breach of a delivery obligation. That differs from a payment default, which is a debt claim, because the object owed is the asset itself, not money.
The claim can be framed as specific performance, where the applicable law allows compelling transfer, or as damages equal to the value of what was never delivered plus consequential loss. Which framing fits depends on the governing law, the situs of the asset, and whether the obligation was one of result or of means. The competent authority is determined by the applicable procedural rules, not by where the money was sent or where the seller claims to be based. We also don't state a limitation period here: the period is determined by the applicable law and must be checked against the specific claim. For a closer breakdown of how delivery obligations are classified under different contract types, see the non-delivery insight.
Where it occurs
Non-delivery shows up wherever a counterparty controls the transfer step after payment has cleared. Real estate abroad is a common setting: the seller holds the deed or the registry entry and simply doesn't file it. Private company shares are another: the buyer pays, the company never issues or endorses the certificate, and no entry appears on the shareholder register.
Fund units, tokenized assets and pre-IPO allocations follow the same pattern. Payment goes through; the corresponding entry never does. A related account of a stalled property transfer is set out in how a delivery failure on a foreign property purchase plays out. Where the asset is a corporate stake, the underlying question is often who actually controls the entity that was supposed to transfer it; see how an ownership structure report maps that control.
Available routes
The starting point is a formal demand for delivery, with a deadline, sent in a form that can later serve as evidence of default. If the counterparty still doesn't perform, the routes split by what was promised.
Where the contract can still be performed, a claim for specific performance seeks an order compelling transfer of the deed, the shares, the tokens, rather than money. Where performance is no longer possible or the relationship has broken down, the claim shifts to damages measured against the value of the undelivered asset.
Parallel to the civil claim, non-delivery combined with a false claim of ownership or capacity can amount to fraud under the applicable criminal law. That track runs separately from the civil one and follows a different logic and timeline.
Whether a protective measure is available to stop the asset being resold or moved before judgment depends on the material facts and the forum. That availability is not established in the abstract and must be checked case by case. Our refund and delivery claims service covers the civil track described here. A separate pattern, dilution of an existing stake rather than non-delivery of a new one, is covered on the dilution refusal page, since the mechanics and evidence differ.
What to gather
Collect the purchase or subscription agreement and every amendment, the proof of payment showing amount, date and route of funds, and all written communication where delivery was promised or delayed. Add any registry extract, share register entry, or custody statement that should show the transfer and doesn't.
If the asset is a corporate stake or property held through a company, an independent asset report can establish what exists and who currently holds it, before any claim is filed. Keep dated copies; screenshots without timestamps carry less weight.
Next step
The next step is a paid initial assessment of the contract, the payment trail and what was actually meant to be delivered. That assessment states whether a delivery claim, a damages claim or a fraud referral fits the facts, and what it would take from here.
We do not work on a result-only fee, and the firm handling this can be checked in the public registry linked in the footer before you send anything. Start from the refusals overview if you're not certain O4 is the right category, or use how to check a law firm before engaging one.