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Bharat Raj (Self Employed)     29 February 2016

Cancellation of purchase agreement

Can we give cancellation of purchase agreement on white paper with two witnesses and the person who is cancelling signed on it as a notice to the seller?



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 3 Replies

jayakumar.R (ADVOCATE & LEGAL CONSULTANT)     01 March 2016

Agreement is Registered or Unregistered ?

 

Adv. Digvijay R Singh (ADVOCATE-PRACTICING)     01 March 2016

If registered it can b only by cancellation deed duly registered

Bharat Raj (Self Employed)     01 March 2016

@jayakumar Sir and Adv. Digvijay R Singh Sir, the agreement is not registered.

Please read the entire episode and give your valuable advice on the same.

"I wanted to cancel a buyer agreement because vendor not showing us the proper documents and we came to know that the layout is also an unapproved one. I have paid almost 70% of the amount and agreement date of 90 days is also completed. The only clause written in the agreement was " i have to pay the total  consideration (amount) within 90 days". Though we have informed him about the reasons why we are refusing to buy the land, seller is not ready to give the amount back.
Now i am afraid that i will loss whole my money. And he will sell the plot to some other party. What should i do to get the money i paid. After few days, We, both the parties have discussed and he agreed to give the amount back with in 4 months through Internet banking i.e, NEFT. He asked to submit the cancellation letter in this regard which we have submitted in his office on 29 Feb 2016 and i have also provided my bank account details to him.
The cancellation letter submitter witnesses are my brother and an advocate. 
He also asked us to return the originals of Sale agreement and deposit receipts after he transfers the funds/amount to my bank account."

Regards,


 

 

 


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