Vijay (personal) 14 May 2010

Cancellation

Hi,

I entered into a agreement for sale on a Rs.100 stamp paper and did a notary for the same (No stamp duty was paid and no registration was done). Now the buyer has not yet repayed the amount for sale contract. I wanted to know to what extent a notary on a stamp paper is legally valid.

Can I directly sell my house to someone else?

Do i need to have the orignal notary with me which currently buyer has?

Is there any procedure for its cancellation?

Please advise on the same. Many thanks

Vijay

Reply Follow

4 Replies

Gundlapallis (Advocate) 14 May 2010

You have committed yourself to sell to your buyer through a notarised agreement for sale. The insturment is valid and binding on both of you. You didnt mention the time limit mentioned in the document for materialising the transaction. If there is no time limit the document will hold good and make you bind to the buyer for 3 years from the date of document.