Cancellation of a Sale Deed

Querist : Anonymous (Querist) 16 September 2010 This query is : Resolved
Dear Sir/Madam,
My query is as follows:
A Sale Deed in relation to a flat is executed and registered between two parties. The buyer has not paid the full consideration for the same which was due to be paid within one month of the executio of the sale deed. Out of mutual consent the seller waited for a duration of two months more than the time due. However inspite of that the buyer did not pay the money due. The seller now wants to cancel the sale deed. What is the procedure for the same and what documents will be needed to be executed to revoke the sale deed?

Please help.

The new point here is that the buyer is also willing to cancel the deed as he cannot arrange for the money. Both the parties want to mutually execute a cancellation deed. What will be the validity of this in the eyes of law.

Further can there be novation of contract?

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s.subramanian (Expert) 16 September 2010
The sale deed cannot be cancelled for this reason. The law does permit any such move. Nor any such cancellation deed wouldbe valid and legal in the eye of law. The only course open to you will be to file a suit for the recovery of the unpaid purchase money alone. No other option is available to you.

s.subramanian (Expert) 16 September 2010
If the buyer is ready take a sale deed in your name afresh. Otherwise title will not pass.

Raj Kumar Makkad (Expert) 16 September 2010
The sale-deed can be got set aside through civil court. One party can plead therein that the sale has been got fradulantly suppressing certain facts and another party if either becomes ex-parte or admits the suits then court shall definitely set aside such sale-deed.

Sri Vijayan.A (Expert) 18 September 2010
Is the fact of non-payment of sale consideration is written in the sale deed?
Then the unpaid seller has lien over the property, but the property was already transfered though unpaid.
The fact of non-payment shall help in the suit.
Otherwise go for re-conveyance deed, nothing but another sale deed with full stamp duty and registration fee.
Ask the seller to bear these costs

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