cancellation of sale agreement after 3 years

Guest (Querist) 24 September 2015 This query is : Resolved
Sir in 25/01/2010 we agreed and signed a registered sale agreement regarding sale of house
And sale vale is Rs.25 lakhs and he paid me 20 lakhs in advance and balance 5 lakhs to be paid at
time of sale.The time given to him is 2 years and it ends in 24/01/2012.In the agreement sale agreement its clearly mentioned that the agreement will be invalid and the buyer will loss his whole advance if he failed to make the settlement in time. Now its been 3 years after the
Agreement lapsed. Is there any possible way to cancel the agreement without going to court and in the absence of the buyer.one of my lawyer suggests if I move to court it may take nearly 5 years. Kindly help me.

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Guest (Expert) 24 September 2015
You have Not mentioned about the Possession aspect.Who is in possession now.Ofcourse Legally Sale agreement period of 3 years is Completed and the Validity of agreement had lapsed.But the buyer had already paid you 80% of the Price and if you wish the cancel the agreement better return the advance amount with reasonable interest by D/D with an Explanation Letter.Even Court would advise him to Pay the balance with Interest in your Case and Settle You.He could Justify his delay with reasonable grounds.Sort it out amicably.

Guest (Querist) 24 September 2015
Sir iam in possession till today

R.K Nanda (Expert) 24 September 2015
repeated query.

Rajendra K Goyal (Expert) 24 September 2015
Send registered notice that as per agreement the deal is cancelled and earnest money forfeited.

Kumar Doab (Expert) 24 September 2015
Member has deleted the account.

Sri Vijayan.A (Expert) 24 September 2015
Out of Rs.25 L, you have received Rs.20 L.

What is the reason for lapse of period?
The reason may be yourself.

Without the buyer, you cant cancel the agreement.

Or approach Court.

Dr J C Vashista (Expert) 25 September 2015
Repeated query by a member whose account stand deleted, hence no reply.

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