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Will the sale deed stand cancelled if payment cheques are not cleared?
06-Mar-2023 (In Banking / Finance Law)
Hello I have bought a property.I have paid half the amount of consideration through rtgs on the date of registry and have issued 5 cheques for rest of the half. The seller has presented only 2 cheques till now(after 2 month of registry) which got cleared . My concern is about ; what if the seller intentionally doesnt put up rest of the cheques for clearing , will the sale deed be cancelled ?
For cancellation of a sale deed the seller of the property has to approach the court of law that too with cause of action and in the instant matter the seller of the property is not having cause of action. From your query it appears that the seller accepted the RTGS amount and two cheques got cleared, and this amount is not returned by the seller ok. If a person himself not submitting a cheque for clearance he cannot made responsible to you. So please dont worry and enjoy the property being a owner thereof.
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Adv. Vivek Shukla
Jabalpur | 25+ Answers
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Can sale deed be executed on post dated cheque?
It is dangerous to accept pdc, especially after a sale deed. Even if you are not satisfied with the pdc, the sale deed can be cancelled. However, it is time-consuming, involves court fees, and costs legal fees.
What are the latest rules for cheque bounce?
First, send an official demand to the person who has committed the offense.
After receiving the notice, the debtor has 15 days to pay the amount due.
According to Section 138 (Negotiable Instruments Act of 1881), the payee must send a notice to the drawer within 30 days after receiving the return memo.
What is cancellation of sale deed due to cheque bounce?
Cancellation is a civil case that can be filed separately with the case of a bounced cheque u/s138. Payment of liability will continue until payment OR court orders dismissing the civil case or matter is settled amicably.
What is the time period after cheque bounce?
According to the Negotiable Instruments Act (NIL), legal notices must be sent 30 days after the date that a cheque bounces. The case must then be filed within 15 30 = 45 days of the date the legal notice was sent.
cheque bounce after property registration
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Sale deed cancellation due to cheque bounce Supreme Court judgement
Sale deed without consideration is void: Supreme Court judgement
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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