Cancellation of agreement
Vinay gireesan
(Querist) 04 May 2017
This query is : Resolved
Dear sir,
We have land in talegaon ,district pune. Which we wer trying to sell. Finaly we got a buyer for our property he was interested in our property. The deal was done on last year on 29th oct 16 with a token amount of rs 8lacs.. property value is off 3.63cr.
We made an agreement which was notarized. The problem is we forgot to put time period n cancellation of the agreement if not paid full amount by the buyer. Now its been more than 7months we r stil trying to contact them and they say to us full payment wil b done in 2,3 days but they r not bothered to pay us. Now we r fed up of there false promise and we want to cancel the agreement as we ve not put any time period. Pls guide us how can we cancel the agreement what all are the options.
Thank you,
Regards,
Vinay Gireesan
Kumar Doab
(Expert) 04 May 2017
Take help of local counsel specializing in such/revenue/property matters.
kavksatyanarayana
(Expert) 04 May 2017
@Vinay, did you take any advance at the time of Agreement of Sale/before or after that time? Consult a local Lawyer having knowledge in the filed of property matters and send a legal notice to them. for the remaining, follow the advise of your lawyer.
Dr J C Vashista
(Expert) 05 May 2017
Issue legal notice before filing a suit for specific performance through a local prudent lawyer.
krishna mohan
(Expert) 05 May 2017
Time and remedial measure including forfeiture of advance are essential clauses to ensure time bound performance. For such a value you could have taken the help of an able legal expert to draft nice agreement. Any way you can issue legal notice well drafted to give a time frame within which you can compel the party to pay remaining sum and get the property registered and beyond that you can say the agreement shall become null and void. Specific performance is one way you can think of but once you get it to legal battle, you can not come out and sell to another owner until the matter reaches finality.
Kumar Doab
(Expert) 05 May 2017
“you could have taken the help of an able legal expert to draft nice agreement. “
Agreed with it.
Preferably consult a very able local counsel of unshakable repute and integrity at your location, specializing in revenue/property/civil matters before you proceed on your own.
Kumar Doab
(Expert) 05 May 2017
Another Perspective: Apply your skills and resources to pursue with buyer and he/she may speed up the efforts to pay balance to you ASAP and register the sale deed.
Set some reasonable period.
The buyer knows as posted by you that there are less or NO other buyers and it is high value transaction.
Rajendra K Goyal
(Expert) 05 May 2017
Send legal notice, agree with the expert Dr J C Vashista.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 06 May 2017
virus to pay the final amount in reasonable time even though it has not been mentioned in agreement.
Send legal notice stating specific date pay n on failure agreement will get cancelled suo moto.Return the amount paid with receipt of return of payment.
Kumar Doab
(Expert) 06 May 2017
Many experts have posted in thread initiated by you.
Spend quality time with a very able local counsel of unshakable repute and integrity at your location, specializing in revenue/property/civil matters.
Vinay gireesan
(Querist) 08 May 2017
Thank you for the reply to this letter.
Really helped me a lot...
I will consult with civil advocate.
Thank you.
Vinay gireesan
(Querist) 08 May 2017
Thank you for the reply.
Really helped me a lot...
I will consult with civil advocate.
Thank you.
