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pradeep007 (others)     12 October 2014

How to cancel token amount agreement

hi everyone...

my grandmother is selling field for 30 lakh per acre. so she signed a bayana receipt on 100rs nonjudicial stamp paper after taking 1 lakh token amount. on this document there was no mention of time limit for agreement, or registration. only cost per acre was mentioned and token amount taken was mentioned. there is only one original. its with buyer he didnt sign it. xerox is with seller. there is only one witness sign from buyer side. she wants to cancel it now. also it is written in the document that when she provides the documents beloning to her rights on land, agreement of sale will be done. i and my father have signed as witnessess. now can she cancel it? is this document a valid one?



Learning

 4 Replies

Hardeep (Business)     12 October 2014

Is there a penalty clause in the agreement for canceling it ? 

Thangavel Manickadevar (Excutive Director and Legal Advisor)     13 October 2014

pradeep,

 

if the documents is in english mail me, then i can give you the details. mail id : covaimthangavel@gmail.com

T. Kalaiselvan, Advocate (Advocate)     18 October 2014

Since it is not a sale agreement, it can be cancelled by returning the money received along with a notice confirming the cancellation and return of the money received.  Better send the amount by DD.  For further details and solutions, better take the help of a local lawyer and proceed as per his further advise.

adv.bharat @ PUNE (Lawyer)     27 April 2016

1) Make DD of nationalised bank in faour of purchaser.

2) Make cancellation Deed and mentioned the token given by DD in faour of purchaser. Thus make the document notary.

Thanks


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