Land deed cancellation
munnu babu
(Querist) 12 November 2014
This query is : Resolved
i made a land sale deed of rs 1850000. but the buyer cancelled the agreement after paying rs 1650000. I have already returned rs 1050000. I am not in a situation to return the whole money now altogether. I want to know is there any provision to pay the rest amount in monthly installments. if it is so, then what is the maximum no. of months will i get to pay the amount.
V R SHROFF
(Expert) 12 November 2014
both the parties should amicably decide.
No law in it.
munnu babu
(Querist) 12 November 2014
the buyer filed a petition against me u/s. 420, 406, 34 and my advocate said to me that there is a rule as per high court order that the maximum no of such installment is 12 and you have to pay the amount under the said period. Is my advocate right? please answer its very urgent.
ajay sethi
(Expert) 12 November 2014
where is the balance Rs 6,50,000? you have pocketed Rs 6.50 lakhs .
was sale deed registered? how was cancellation of sale deed done?
munnu babu
(Querist) 12 November 2014
no the sale deed was not registered. i sold the land to fulfill my needs and . the buyer filed the petition in september 2012( upto that period he had only paid rs 1550000) and after that in december he made a payment of rs. 100000. after january he asked me to return the money as someone else has filed case on that plot. since then i am returning the money. in sept 2014 i paid him rs 100000 and so the total returned money now amounts to rs 1050000. after that i got to know that he had filed a case against me.
ajay sethi
(Expert) 13 November 2014
you can inform court that you are willing to pay balance amount in installments
