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G.Nagarajeshwar Rao (Advocate)     31 August 2011

Re conveyance or cancellation deed

Dear friends & seniors! 

I would like to know that..... Once a person "X" is executed sale deed in favour of "Y". The "X" is intending to cancell the same with the consent of "Y". Then whether the "X" can execute a cancellation deed of the sale deed with the support of "Y" without paying stamp duty on the property? or is there any requirement to pay the stamp duty on the property value as if the cancellation deed is treated as "Reconveyance of sale"? Thank you one and all.  



 8 Replies

Shaulabh Shah (advocate)     31 August 2011

Hi...

In my opinion....

No one cancle the sale deed.... by any way and /or any mean...

Reply By: Shaulabh Shah Advocate

Website: www.shaulabhshah.com

Shastri J.K. (Practice in The High Court of Chhattisgarh)     02 September 2011

Iam not agree with mr.  Shaulabh Shah. sale deed may be  cancle

nithyarangasamy (legal trainee)     02 September 2011

yes sale deed canbe cancelled with the consent of both buyer & seller

SURESH KUMAR PATRA (ADVOCATE MEDIATOR & TAX CONSULTANT)     02 September 2011

Sale Deed can be cancelled by consent of both buyer and seller and there is no need to pay stamp duty as a Reconveyance Deed and a nominal  stamp duty will be chardged on the  Deed of Cancellation.

S.Khan (Advocate)     16 September 2011

The sale deed can be cancelled by both the parties But such cancellation may be treated as resale and if any consistency appears to the stamping authority that it is a resale in the body of cancellation with an intention to avoid the stamp duty payable to such sale deed, the stamping can proceed to recover the deficiency of stamp under the provisions of stamp act. It is depended upon the circumstance (gap of time) between sale deed and cancellation thereof.

Chandeep Singh (Final Semester student)     13 December 2011

i agree with Adv. S. Khan!

Satisha Bhadraiah (Advocate)     18 November 2013

The term re-conveyace used only when a mortgage is fully paid off and the land is returned to the owner free from the former debt. The cancellation of deed  in circumstance may cancel,

1.  cancelled by consent of the both parties or

2. absolute sale could be cancelled at the instance of the transferor only by taking recourse to the civil court by obtaining a decree of cancellation of sale deed on the ground inter alia of fraud or any other valid reason.

sr (developer)     10 August 2014

Dear experts,

Can we cancel the partition deed in same way if all executing members in deed want and present? We want to change the land allotment in the deed. Is there any stamp duty required to cancel. Is there any cancellation deed required for this. The existing deed already executed. Or can we change the land allotment in the rectification deed ? Please advice

 

 


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