Cancellation of registered agreement after full payment
Preet
(Querist) 11 January 2013
This query is : Resolved
I have allotted a flat no. 101 while re-development which I sold to Mr. Singh before I got the possession. I received full payment & we made agreement for Sale & registered it. While time of possession I got flat no. 108. Builder said that they have given 101 by-mistake. Now buyer don't want that flat as it is not having good view from the flat. Now both of us have decided to cancel the deal. I am ready to pay his money back to him. I want to know If I haven't allotted flat no. 101, do I need to cancel the registration of same or not? If yes, What is the procedure? (Mutually we both are agreed to cancel the deal).
S. Bharath
(Expert) 12 January 2013
In order to avoid confusion with respect to the tile to Flat 101 due to entry of your mistaken sale deed in the encumbrance certificate, it is proper that you both execute a cancellation deed and get it registered.
Advocate Ramesh
(Expert) 12 January 2013
if both agree then you can cancel the sale agreement, but I have doubt regarding first of all that 101 flat not belongs to you. Only allotted 108. So what is my suggestion, first you have to registered rectification document changing the flat from 101 to 108, then you both cancel. so that even the flat owner 101 will not face any legal problem.
Preet
(Querist) 12 January 2013
So now what is the procedure to cancel this transaction?
What will be the total cost & who has to pay?
Do we need to pay stamp duty again?
What can happen If we do not register deed of cancellation?
Advocate Ramesh
(Expert) 13 January 2013
First you both went to registration department and ask for to done rectification document. After rectifing the existing document, again you both went to cancel the registered agreement. There is no need to pay any stamp duty.
ajay sethi
(Expert) 13 January 2013
agree with ramesh . since flat no has been worongly mentioned execute deed of rectifcation . then subsequently cancell the agreement
S. Bharath
(Expert) 13 January 2013
I respectfully disagree with Mr. Ramesh and Mr. Ajay Sethi..when there is no intention to sell Flat 108, rectification of the earlier sale deed does not arise.
Advocate Ramesh
(Expert) 14 January 2013
Eventhough there is no intention to sell FLAT 108, There is a entry in E.C regarding sale agreement in 101 flat, so those who having 101 flat having face some problem, so that only I informed him. So that no one will face problems
Raj Kumar Makkad
(Expert) 14 January 2013
The author neither want to purchase property 101 nor 108 and want to get the money refunded so the question of registration of agreement or any other document do not arise at all.
Preet
(Querist) 15 January 2013
If I don't cancel this transaction & in future If I want to sell this flat no. 108 to some one else, then what will be the procedure?
