Cancellation of mou
sagar jadhav
(Querist) 18 December 2013
This query is : Resolved
1) I had deal of flat with one party whr sales deed was not done,we were to do agreement to sale only
2) Buyer cancelled mou
3) There is no mention on mou I have to return token amount or return in specific time
Am I legally obligued to return money?
R.K Nanda
(Expert) 18 December 2013
depends on terms of sale agreement.
prabhakar singh
(Expert) 18 December 2013
2) Buyer cancelled mou?
Orally or in writing?Untold by you.
sagar jadhav
(Querist) 18 December 2013
Hi
buyer said by sms"as per discussion our mou stands cancelled"you r advised to return money immediatly
V R SHROFF
(Expert) 19 December 2013
u need NOT return token amt.
T. Kalaiselvan, Advocate
(Expert) 19 December 2013
Oral cancellation of MOU by buyer no doubt will not confer legal rights on either party when contested in court by denying the fact at that moment. If at all the buyer is really not interested in gong ahead with the sale of the property, it is your moral duty to return the amount after deducting the costs incurred by you in this regard, legally you can act as per the terms and conditions of the memorandum of understanding.
sagar jadhav
(Querist) 19 December 2013
he cancelled using sms ,also he asked for sales deed,while signing mou he was knowing it was not present
ajay sethi
(Expert) 19 December 2013
how much was token amount ? return 90%of amount .
ajay sethi
(Expert) 19 December 2013
send a letter in writing referring to sms of cancellation of deal by buyer. retain Rs 25,000 and return balance Rs 1, 25,000 in full and final settlement
sagar jadhav
(Querist) 19 December 2013
Thanks
so cancellation using sms is not valid?
ajay sethi
(Expert) 19 December 2013
should be preferably by letter . obtain his acknowledgement on letter that sum of Rs _________ received in full and final settlement
sagar jadhav
(Querist) 19 December 2013
I need to give him reason why sms is not valid
Devajyoti Barman
(Expert) 19 December 2013
If you do not wish to cancel the agreement then stick with it by not returning the money.
if he refuses to register the property then file civil suit .
sagar jadhav
(Querist) 19 December 2013
there is breach of agreement from both sides
I dont have sales deed so we decided to do agreement to sale
he asked sales deed I asked extra amt for deal
I still want to go but on large amt since ready recknor rates will increase in pune
T. Kalaiselvan, Advocate
(Expert) 21 December 2013
Cancellation of agreement or MOU by SMS will not hold grounds for a valid act done so. However, morally, it is your bounden duty to return the amount received from him after deducting the reasonable costs in case the cancellation of MOU is to be acknowledged.
sagar jadhav
(Querist) 21 December 2013
dear sir
what reason I should give him for sms invalidatin?
also can I deduct rent?
ajay sethi
(Expert) 21 December 2013
contact a local lawyer .dont mention about sms being invalid . contact him telephonically have meeting with him . discuss issue . . return deposit after deductions as advised
Dr J C Vashista
(Expert) 22 December 2013
Contact a local lawyer, SMS cannot be used for cancellation of sale transaction.
Act as advised by experts
Devajyoti Barman
(Expert) 22 December 2013
adequately advised.. now act on the advices.
sagar jadhav
(Querist) 03 January 2014
thanks all
I using this advices well
sagar jadhav
(Querist) 05 January 2014
Hi
anybody from repliers from pune?
buyer threatened to police case
prabhakar singh
(Expert) 05 January 2014
MR.PALNITKAR V.V. AT SERIAL 35 OF EXPERT SECTION OF LCI IS ONE OF THE SENIOR LAWYERS AT PUNE,WHOM YOU MAY CONSULT IF YOU CHOOSE SO.
ajay sethi
(Expert) 05 January 2014
search in experts section of LCI .
ajay sethi
(Expert) 05 January 2014
or in caption search of lawyers type pune . you will get list of experts practising in pune
Devajyoti Barman
(Expert) 05 January 2014
Mr Jadav, make some effort to search for an advocate and stop this thread.
sagar jadhav
(Querist) 05 January 2014
Sorry Mr barman
I thought it will be good if any of replier is in pune would have solved lot of time
