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Cancellation of sale

I have put my property on sale - The buyer gave me a cheque of Rs. 5 lakhs as token money which i deposited in the bank and it is credited. I have also given the buyer the NOC in his name from the society. There is no agreement or any other document signed yet. But now i want to cancel the deal with the said buyer. How do i go about it and can the buyer file any litigation?

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3 Replies

kavksatyanarayana (subregistrar/supdt.(retired)) 05 November 2022

You shall tell him that now you are not interested to sell the property and you shall repay the amount of sale which was taken by you under proper acknowledgment.

N.K.Assumi (Advocate) 06 November 2022

In addition to the above expert views, I am of the opinion that you should file a civil suit to cancel the transaction.

Advocate Bhartesh goyal (advocate) 06 November 2022

Better settle the issue amicably .you entered into oral agreement with buyer and in pursuance of oral contract you received part payment and now you want to cancel the cotract without any reason in such circumstances buyer may file suit for specific performance of oral contract against you and you would have to face consequences and has to execute sale deed in favour of buyer.