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Pankaj (Manager)     25 April 2013

Options for cancelling the mou for land sale

Hello All

 

I have recently(1 Mar-2013) enter into MOU for sale of my plot for token amount of 100000 INR with clause to register property within 40 days. There is no negative clause mention in MOU. The buyer didnot turn up in 40 days . Now I want  to sell the property to new buyer , What are the options available to me?  How should I get NOC from previous buyer , so that I will get rid of previous buyer.

Options looks to me are :

1. Settle the matter with previous buyer after refunding him money and ask for NOC

2. If previous buyer does not give NOC , then send the notice to him

Please suggest me the way

Regards

Pankaj



Learning

 3 Replies

ABHIJEET PARIKH (Bcom LLB MBA)     26 April 2013

Dear Pankaj

Its your plot why u should ask for NOC if there is failure to registered the property

under Supreme Court judgement ur entitled to forefit the Token amount On failure to comply within 40 days the MOU has no legal sanctity

Just send the notice to the parties that on failure to comply with MOU the transaction is cancelled do not refer about any amount to be forefeited Let them come to u and negotiate

Regards

Abhijeet A Parikh

PS I understand that u have not handed over any document related to the land apart from the MOU referred herein

Bharatkumar (ADVOCATE )     26 April 2013

MOU is not registration, and if u write 40 days time for full-fill all condition and then u registration a sale  deed in favour previous buyer. Now after 40 days the MoU is cancle because buyer not fill-up condition as per MoU, then u send one notice through your advocate about cancle of MoU.

Manpreet Singh Sood (Managing Partner)     19 May 2013

 

Please clear be about  the nature of document is it agreement to sell or it is distinct and only MOU are there signatures of party i. .e.       u and purchaser.

 So the advice will be appropriate if u answer all these questions. Adv Manpreet Singh Sood 9417245693 

 


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