Mahesh G (Senior Associate) 21 February 2016

Agreement of sale

Hello Experts,

I had a sale agreement in chennai with the end date as december 2015, and the buyer still not able to complete the sale. He is still not sure when he will get his money to complete the deal.

How do i proceed in this situation, Can i look for a new buyer as the agreement end date is overdue? and return the money to the agreement holder after i can find the prospect buyer.

or the old agreement is still valid?

Note: Agreement is executed in 20/- stamp paper.

Can someone please help me with the query.

Thanks & Regards

Mahesh G

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1 Replies

Adv. Yogen Kakade (+ 91 9225510883) 22 February 2016

If the agreement is done without paying proper stamp duty and registeration charges and if it is not registered with the sub-registrar's office.. then the agreement is not valid and has no legal meaning.. even we have to see the duration of the transaction to be completed mentioned in the agreement.

If you honestly want to return the amount and cancell the transaction.. then you can send a legal notice of cancellation of the agreement to the buyer and he has no right over the property what so ever.

Adv. Yogen Kakade

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