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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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