Cancellation of registered sale agreement
Suvarna
(Querist) 16 January 2013
This query is : Resolved
We have registered our sale of agreement(SA) and taken 2 months time to register sale deed.
during this 2 months :-
we (2 brothers and 3 sisters) obtained Khata in each of our names.
and also during this 2 months buyer had applied for bank loan, & when they measured our property they found that the measurement falls short of some 3X20 sqft. and we were not aware of this miscrepancies. Both the parties are not agreeing to the terms of negotiated price and the buyer is not willing for cancellation he wants to pay very less if not wishes to go to the court.
However 2 months per the registered SA is over.
Per the agreement our breach terms are if we default we return the advance + 12% pa interest and if he defaults we return 1/3rd of the advance.
can you please guide how do we go forward for cancellation? Cancelling after expiry of registered date can the buyer still go to the court and challenge?
We spoke to our neighbors whose property encroached ours, No results since we do not know from when there is the shortfall, we have been living in this property since our parents bought(<50yrs) while our neighbors property has been sold several times.
Devajyoti Barman
(Expert) 16 January 2013
It would all depend upon the contents of the SA.
If time was the essence of contract you after the expiry if time can cancel the agreement and return the earnest money.
ajay sethi
(Expert) 16 January 2013
contact a local lawyer . necessary to go trough the clauses of the agreement . if time is essence of contract and buyer has failed to make payment cancel the agreement and return the earnest money
Suvarna
(Querist) 16 January 2013
the buyer also sent us a registered post 2 days before the expiring date of registration and saying he is willing to buy and we acknowledged saying we are willing to sell and asked him to fix the date and time and inform us.
Suvarna
(Querist) 16 January 2013
Thank you for your reply Devajyoti and Ajay Sethi Sir
Raj Kumar Makkad
(Expert) 17 January 2013
You didn't attend the office of registrar for the purpose of registration of sale-deed on the fixed date despite of receipt of legal notice from the side of buyer so you cannot cancel the agreement now on your side. better to reply the notice through a lawyer and offer to sale the property as per agreement.
Suvarna
(Querist) 17 January 2013
Thank you for your response Mr Raj Kumar. what we received from the buyer was not a legal notice but plain typed written on which the buyer had signed and was sent through registered post For which we also replied that we are also ready and willing to sell.
Now the issue is the short fall of measurement of the property by 3X20 feet. this was measured by the bankers. How to ascertain the correct measurement?
V R SHROFF
(Expert) 17 January 2013
correct measurement: Surveyor
Anirudh
(Expert) 17 January 2013
Whether it is constructed property or open plot?
Suvarna
(Querist) 17 January 2013
The property is in bangalore Karnataka. Please give the information how to get the Surveyor measure the property?
Thank you Sir for your response
Anirudh
(Expert) 17 January 2013
You have not answered my query.
Raj Kumar Makkad
(Expert) 17 January 2013
If the property is constructed or the open plot, in both situations, a surveyor shall measure and shall report accordingly. Engage the service of a surveyor for this purpose.
Suvarna
(Querist) 18 January 2013
I am sorry sir, this is constructed, an old red oxide house on 30/60 area. I want to know where should I seek a Surveyor? how to find?
Raj Kumar Makkad
(Expert) 18 January 2013
In which city, do you reside? You can even find surveyors online. You can enquire it locally. Call me in your city so that we both may jointly search such surveyor if you are unable to search him.
Suvarna
(Querist) 21 January 2013
Sir if we issue a notice to the buyer saying since the time of our agreement has elapsed, we are giving him some time to get the sale deed regd to the said consideration if he doesnt turn up can we imply,can the court say that this agreement stands cancelled?
Can we issue notice like this since we have shortfall in the measurement of the property?
Suvarna
(Querist) 21 January 2013
Also once this is done do we have to go to subregistrar for cancellation? and should we do anything to enter this in EC?
