In a cancellation of sale deed,Will a clause relating to refund of sale consideration amount and delivery of possession back attract stamp duty ?If so how to avoid ?Is it all right if the cancellation deed doesnot contain the said clauses
krishna (legal consultant) 13 September 2012
In a cancellation of sale deed,Will a clause relating to refund of sale consideration amount and delivery of possession back attract stamp duty ?If so how to avoid ?Is it all right if the cancellation deed doesnot contain the said clauses
Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 13 September 2012
Cancellation Deed since it purports to extinguish interest already created by the sale deed is necessarily required to be registered as per S.17 of the Registration Act, 1908. On payment of same duty as a relinquishment.
SRIKANTH (junior) 13 September 2012
In sale deed if any condition to comply by the puchaser,
if not complied by the purchaser, vendor can cancel the sale deed through
court. Court fee 7.5% of sale value (Tamil Nadu)
other wise no right to cancel the sale deed by the vendor.
A.SUMATHY - ADVOCATE - 9381204576.
P. SRIKANTH - ASST. 9381206050
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