Cancellation of sale deed

Dear Mr NIMIT MUNDHRA,

Yes a sale deed can be cancelled, but only with the mutual consent of buyer and seller (both has to be present and execute before the  Registrar ).

Requirements:

1) Cancellation deed.(between buyer and seller)

2) No stamp duty required.

3) Just registartion fee (Rs 100 in tamilnadu please check with your concerned Registrar office)

Thanks,

Chellapandian.K

Advocate

High Court of Madras.

Both parties are present at Sub-Registrar office at the time of Registration and sign in the document. . 

It is not advisable to go for cancellation deed,  it has to be through re conveyance deed only. Buyer had to re convey back the property rights to the seller, with necessary stamp duty.

1. This transaction may be regularized by registering a rectification deed by both parties.

2. Difference in some amount of stamp duty may be payable.

3. If still the buyer wants to cancel the deal and the seller does not have a property having the same plot number, he need not do any thing because for all practical purposes this transaction is a nullity because the contract is getting frustrated because of lack of subject matter of contract i.e. The Vendor selling the plot. which he does not own!

 

Thanks Mr. Chellapandian for the clear cut reply. Adv Raghavan seems to have a different point of view. Can you please clarify whether the property will go back to the seller on such a cancellation deed?

Dear Mr Nimit Mundhra, My learned friend's suggestion may be correct but as for as the facts of your case is concerned "cancellation" is the best , quick and cost effective . Property will definitely go back to the seller. During last month we handled a similar case in Coimbatore TN and got remedy for our a client in a weeks time. Wish you all success. Thanks, Chellapandian.k