Cancellation of sale agreement of an resale property

This query is : Resolved 

13 March 2019

One of my friends had bought an resale property in Oct2018 in Bhiwandi, Maharashtra. He was unable to fulfill his commitment of balance payment. Hence wants to cancel the deal.

We had discussion with an lawyer who told us that the original copies of 1st sale and 2nd sale for cancellation of deal and refund of stamp duty.

The issue is that the 1st owner has his original agreement mortgaged with his bank which provided him home loan. So he cannot produce the original copy of 1st sale unless the home loan is paid.

What can be the way out in this situation?

Will Loan sanction letter from banker be acceptable instead of original sale deed

Dr J C Vashista (Expert)
14 March 2019

Show the document of "Agreement to Sell" and mortgage to a local prudent lawyer for better appreciation, guidance and proceeding to issue notice for revocation of said agreement.

P. Venu (Expert)
14 March 2019

The facts, as posted, lacks clarity.

kavksatyanarayana (Expert)
14 March 2019

Your friend bought the re-sale property in the year 2018. Is it registered? Obtain the document number and year of 1st sale and 2nd sale documents, apply for copy of the same in Registrar Office.

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