Cancellation of registered agreement for sale
Adv. Aashish shah
(Querist) 11 August 2012
This query is : Resolved
My Friend did a registered agreement for sale with irrevocable Power of attorney in 1995. In which specific time limit for completion of sale deed is not mentioned. He got the full consideration by that Agreement for sale & gave the power for sale the property to attorney who is the same purchaser. Today my friend wants to sale the property to another purchaser. How can he terminate or cancel the agreement for sale and power of attorney?
Adv.R.P.Chugh
(Expert) 11 August 2012
Mr.Shah,
He cannot cancel the POA for the simple reason that the POA was irrevocable - it is called 'agency coupled with interest' under the law, and cannot be revoked. Before Oct, 2011 such transactions were valid and there is no way your friend can cancel it. The POA and Agreement to Sell were meant to be and infact were good title in those times, after having received the full consideration - Legally you cannot and ethically you should not entertain such ideas.
