Regarding cancellation of sell agreement
SAURABH CHANDRAWANSHI
(Querist) 16 March 2014
This query is : Resolved
Dear Sir,
I having 2BHK Flat is bhopal the party had made the agreement,Now the Flat cost @ 9lakh and at the time of agreement he was paid of Rs 3.5lakh as advance and rest amount of Rs 5.5lakh are paying through EMI.of Rs 8500.00 pm,Now as per agreement it not cleared how many installment ?.but it is clear that whenever full Amount will be cleared they will registered the property by their name.
As per check up the agreement there is any interest & time period are indicating & no any dead line of payment & neither when the payment will be cleared not shown and not indicating the interest rates,Hence till the property are unregistered or due to incomplete payment property not register at register office.
Now due to Non availability of time limit & vary of interest rates & uncertainty of agreement i want to cancelled this sell agreement.
Now we are attaching the same Request please check & advice the corrective action.so as to comply for cancellation
Regards
Saurabh
Call:08658692737
Devajyoti Barman
(Expert) 16 March 2014
The said reasons are not proper to cancel the agreement. You have to search for other cogent reason.
Rajendra K Goyal
(Expert) 17 March 2014
consult a local lawyer and get the letter drafted with more acceptable grounds.
T. Kalaiselvan, Advocate
(Expert) 18 March 2014
The sale agreement cannot be canceled for the stated reasons. This thought should have occurred then at the time entering into the sale agreement, now it is too late. However, just issue a legal notice asking the buyer to expedite the registration of sale of the property at his cost, you will get some reply based o which you can decide further course of action in this regard.
R.V.RAO
(Expert) 28 March 2014
you could have kept an exit window in the agreement of sale itself that unless the regn.is done within -----days,the agreement of sale will be cancelled, and that will take the buyer and the seller to their original positions.
without any such precautions, the other party does not accept your stand due to money involved being paid in part.
the only alternative is to accept some nominal penalty and negotiate with other party through some mutually acceptable or common friends to cancel the deal.
