Buyer back out of sale agreement and introduce new buyer

Dear querist,

If all the three parties are ready then it can be done without knocking legal door.

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600

It is best to register a cancelled deed of the previous Agreement to Sell between A & B, and enter into a fresh agreement between A and C, if the seller A is willing to adjust the advance payment taken from B to now new buyer C. You have to check whether there were any clauses in the previous agreement wrt cancellation or withdrawal procedure.

Since B does not have any role anymore in the new deal, there is no need for a tripartite agreement.

Originally posted by : Deepak Joshi
	Dear querist, If all the three parties are ready then it can be done without knocking legal door. Deepak Joshi & Associates Djaa.legal@gmail.com Mb/whatsapp +919456777600

Thanks for the clarification.

In that case, will we need to pay stamp duty once again on the addendum agreement or we can mention in the agreement that stamp duty paid via so and so challan on the original agreement?

@Ananya,

Thanks. In case we cancel the agreement between A and B, can we claim the refund for stamp duty even after 2 years, since the agreement terms are not fulfilled.

The property is registered in Mumbai.

Are there more opinion on this?

Apologies for the delayed reply. No the stamp duty will not be refunded as this is for charged for the registration of the document and will not be defunded. That amount will have to be foregone.