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Cancellation of sale deed

(Querist) 23 October 2016 This query is : Resolved 
Dear Experts,

"A" borrowed loan from "B" and for the security "A" had executed sale deed infavour of "B".

Right now "A" had repaid the entire loan amount.

Both parties agreed to cancel the above transaction of transfer of property for which either they can:

(i) file a suit for cancellation of the said sale deed? or

(ii) "B" can execute a Donation Deed infavour of "A". Is it permissible under law?

Kindly advise me, which one is better?

Thanking you, in advance.
Guest (Expert) 23 October 2016
How you are concerned with the sale deed between A & B?
Kuummaar AS (Expert) 23 October 2016
Kmedu,

THIS APPEARS TO BE A HYPOTHETICAL QUERY.

EVEN IF IT IS, LET IT BE SEEN WHAT STORY YOU CONCOCT TO JUSTIFY THAT IT IS NOT SO. ANSWER THE FOLLOWING QUESTIONS:

"A" borrowed loan from "B" and for the security "A" had executed sale deed in favour of "B".

1. HOW MUCH WAS THE LOAN AOUNT?

2. ON HOW MUCH AMOUNT STAMP DUTY WAS PAID
IN RESPECT OF THE SALE DEED?

3. WHAT WERE THE TERMS AND CONDITIONS OF LOAN?


Right now "A" had repaid the entire loan amount.

WHAT WAS THE TENURE OF THE LOAN AND WAS IT TO BE REPAID IN INSTALMENTS OR IN FULL.

Both parties agreed to cancel the above transaction of transfer of property for which either they can:

WHAT EXACTLY WAS AGREED TO FOR CANCELLATION OF SALE DEED?


Guest (Expert) 24 October 2016
In fact, it is a hypothetical academic query, there being no personal problem with the author.

Guest (Expert) 24 October 2016
The Cancellation of Sale deed could be Executed at the concerned Registrar Office it self.Take the help of senior Document Writer at the Concerned Registrar office it self.Approaching the Court is Not required when both the Parties are willing for the Same.
Devajyoti Barman (Expert) 24 October 2016
I also think so.
Let the author clear our doubt.
Guest (Expert) 24 October 2016
Instead of Wasting Time Implement the Cancellation of sale deed at registrar office at the Earliest before the Lender's mind gets Corrupted depending on the Market Value of the Property.
Rajendra K Goyal (Expert) 24 October 2016
Whether it was a registered sale deed?

If so it was sale of property and not a loan, he can repurchase it or can get it by gift, stamp fee has to be paid in both cases.
Guest (Expert) 24 October 2016
A Sale deed could be Cancelled by Cancellation of Sale Deed.
Kumar Doab (Expert) 24 October 2016
You have posted that:

""A" borrowed loan from "B" and for the security "A" had executed sale deed infavour of "B".

Right now "A" had repaid the entire loan amount.'



As posted by Mr. N.J.S.Rajkumar........"before the Lender's mind gets Corrupted ' choose cancellation deed/gift deed/sale deed etc etc go for a valid deed and close the matter with proper documents.





Guest (Expert) 24 October 2016
The question still persists, how you are related to A, B or the case, when you have not discussed about your entity with particular reference to the case?
adv.bharat @ PUNE (Expert) 24 October 2016
Author need to explain how is related with this matter?
Kumar Doab (Expert) 24 October 2016
Before the Lender's mind gets Corrupted ................ choose cancellation deed/gift deed/sale deed etc etc go for a valid deed and close the matter with proper documents.

Rajendra K Goyal (Expert) 25 October 2016
Agree with the expert Kumar Doab.


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