Termination of mou
PRACHI
(Querist) 16 September 2013
This query is : Resolved
my client has agreed to sale his property to a person as per terms and conditions mentioned in MOU. The period mentioned n the MOU is over and the buyer has not completed his obligations,now seller has to sale his property to another buyer what will be the procedure to cancel the Mou and to entered into new MOU
Guest
(Expert) 16 September 2013
Send a notice (through registered post)stating the reasons for cancelling the MOU. If the notice is sent through a Lawyer, it will be more prudent. Keep record of all communication regarding nullifying the MOU. If the MOU is a registered one, do register the cancellation of MOU, too.
Advocate M.Bhadra
(Expert) 16 September 2013
For unregistered Agreement for Sale you can send a Legal Notice with refund earnest money( if any) to the Purchaser on behalf of your client by cancelling the same.On the other hand if the Agreement for Sale is a registered instrument then you should revoke the same by a registered Deed of Revocation and same may be published in a Newspaper.
R.K Nanda
(Expert) 17 September 2013
nothing more to add.
Rajendra K Goyal
(Expert) 17 September 2013
Well advised by the experts, nothing more to add.
