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siddharth raja (student)     17 December 2012

Need advice regarding cancellation of deal?

dear sir , i own a property in lucknow. i made a deal with a person to sell the property. an agreement was signed between us and he gave us the token money. now, he has backed from the deal due to some personal reasons and we agree with it. we are ready to give him the token money. we have the original agreement document. what other documents should i take from him before giving him the money. someone told me to get written slip signed by him that he will not have any relation with any matter related with the property mentioned.



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 2 Replies

Chetan Joshi (Advisory/Advocacy)     18 December 2012

See...What you can do is to make a fresh agreement in reference to the prior agreement( kept as annex) which will nullify the entire agreement to sell.....Ideally what happens is that you need to execute a sale deed after an agreement to sell for which both have to be present at the registrar's office....

 

 

 

Although the agreement should already have the terms and conditions put between the parties and the non - reciept of money should have nullifying effect...

 

 

 

If the buyer looks creepy then spare some money for someone who has decent drafting skills else it can be done normally too...

 

 

Regards

 

Chetan(dot)7679(at)gmail(dot)com

siddharth raja (student)     18 December 2012

well the problem is that i live in dehradun. so, it is pretty difficult for me to handle it quickly. the other party keep calling me and are threatening to take legal action against me. what should i do? is he entitiled to take any such action against me?


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