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Jayanti Devi (Student)     30 November 2024

Flat buying sale agreement cancellatiom

Flat buying sale agreement executed between  buyer and seller.

cancellation clause is stating that in case of cancellation buyer needs to send written notice to seller and seller shall refund deducting 4%

but seller is not refunding

now, question is

a) can buyer cancel for his own reasons ? or only non fulfilment of terms and conditions can give the right to cancel to the buyer?

b) in a sale agreement, is consent of both parties mandatory for cancellation or any party can cancel stating his own reasons and pay some % damage as per clause?

 



Learning

 3 Replies

T. Kalaiselvan, Advocate (Advocate)     30 November 2024

If it is a registered sale agreement then both the parties are required to execute a registered cancellation deed jointly. 

You can issue a legal notice to the seller communicating your decision to cancel the sale agreement and demand return of sale consideration amount as per the conditions of agreement failing which you may file a suit for recovery of money in civil court to recover the amount due to you. 

Jayanti Devi (Student)     30 November 2024

but seller is not responding to notices and keeeping quiet..

can this be a reason to take actions under ipc 406 and 420 ?

T. Kalaiselvan, Advocate (Advocate)     02 December 2024

In my opinion a criminal complaint may not be maintainable.

If he is not responding then you may escalate the matter through court of law for relief and remedy.

You may discuss with your lawyer and proceed as suggested


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