cancellation of sale agreement
Subramanian
(Querist) 10 April 2011
This query is : Resolved
one of my relative made an agreement with another person to sell his property.
but now the seller doesn't want to sell it, and want to pay back the advance amount and cancel the agreement.
Is it legally possible? should he approach court to cancel the agreement?
i belive the buyer not willing to cancel and still want to go on for resgistration.
Subramanian
(Querist) 10 April 2011
the subject agriculture propery is in Tamilnadu state
R.Ramachandran
(Expert) 10 April 2011
I think the reason for not willing to sell is because of the 'current price' which is higher than the amount of consideration for which the property was originally agreed to be sold.
Your relative will not be in a position to go back from the agreement to Sell. The buyer will be able to enforce the Sale Deed, provided he is ready and willing to pay the consideration.
Parveen Kr. Aggarwal
(Expert) 10 April 2011
An agreement validly executed has to be enforced unless both the parties agree to revoke it. In case the purchaser does not agree to revoke the agreement, your relative will have to honour it. The purchaser may enforce the agreement by filing a suit for specific performance of the agreement.
adv. rajeev ( rajoo )
(Expert) 10 April 2011
If your relative is not interested to sell the property, he will have to issue notice to the purchaser informing the cancellation of AOS by giving valid reason, otherwise purchaser may file a suit for specific performance of contract.
Let me know whether AOS is regd.,?
Naresh Kudal
(Expert) 10 April 2011
purchaser can file a suit for specific performance. if the agreement to sale is unregistered, there may be some relief for your relative.
Advocate. Arunagiri
(Expert) 10 April 2011
Seller is having the power to cancel the sale agreement by returning the advance money.
Agreement holder is having the right to file a suit for specific performance or compensation which ever is possible.
Subramanian
(Querist) 10 April 2011
AOS not registered,
Also there is already a loan deed in force and registered by the lender. Instead of interest amount the subject piece of land in lenders possesion. it supposed to expire by august end. all this AOS is not known to the lender.
my relative is desparate to find an excuse to evade from the sale, but expressed his willings to break the 10 days old AOS with time limit until september 30th.
Subramanian
(Querist) 10 April 2011
Thank you all for taking your valuble time to respond me.
could anyone advise what is the possiblities for cancelling the AOS, while buyer is still interested,
what are the consequences? in terms legal hussels?
Will it end up with my relative battling in court?
Sri Vijayan.A
(Expert) 14 April 2011
1. Ask the vendor to have talk with Buyer for amicable settlement
2. If any penalty clause available in the agreement, the parties can invoke the same.
3. The vendor might be ready to bear some penalty, then the dispute may be settled out of court
SO TRY FOR AMICABLE SETTLEMENT
