suggestion required for cancellati​on of property deal after registrati​on with registrar
baldev chainani
(Querist) 07 June 2011
This query is : Resolved
Dear Sir / Madam,
We have sold Flat to someone and he has got registration with registrar also 'coz of bank loan.
simultaneously, we have also purchased flat with someone with good hope that we will receive from buyer and pay to seller, but one good thing has happened that till date we have not registered flat with registrar.
But, now condition is this, Buyer's bank has refused for bank loan and they are unable to pay us.
Now my question is that both dealings has to be cancelled 'coz buyer unable to pay us and simultaneouly we are unable to pay to seller.
What are the formalities for cancellation of buying flat after registration with registrar and cancellation of flat without registration with registrar.
Pl. help me out this is priority basis 'coz our last date of dealing is 16th June 2011 with buyer and 6th July 2011 with seller.
Thanking you in advance for your kind co-operation and oblige.
Yours truly,
BALDEV CHAINANI
bcx1669@gmail.com
bcx1669@yahoo.com
9870005933 / 9222517630
Raj Kumar Makkad
(Expert) 07 June 2011
Registered sale-deed with your buyer can be got cancelled by getting registration of a Deed of Cancellation of Registered Sale-Deed and once it is registered, its copy is sufficient to cancel your subsequent deal.
