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What to do if i dont want to buy property after paying token amount
28-Sep-2023 (In Civil Law)
I thought of selling agricultural land and received token amount of Rs.2,00,000/- I never demanded Rs.2,00,000/- as token amount. The buyer bought the stamp paper of Rs.100/-. On that stamp paper I clearly wrote that it is a token amount towards the sale of the property. Now, I want to cancel the deal. What the law says in this matter.
Agreements on normal papers (and not stamp paper) are valid in evidence and are enforceable as against the parties who have signed the same. They can can be used as evidence and proof in a court.
If at all an objection is taken in respect of it being non stamped then in such a case deficiency of the stamp papers that were required to affixed can be made good by paying a penalty of ten times the amount of deficiency as per the directions of the court and on payment of the same but, the said document shall be deemed to be fully stamped. ( amount of penalty may vary fro state to state)
It is brought to your notice hat the deficiency of stamp papers on all documents can be made up by paying the penalty to the extent of its under stamping except for Demand promissory notes on which the deficiency can not be made good.
My above views and advise should not be considered as a legal advise and the same does not create a client attorney relationship between us. The views in the above answer have been given with the sole intention of helping you in solving the matter in issue.
If at all an objection is taken in respect of it being non stamped then in such a case deficiency of the stamp papers that were required to affixed can be made good by paying a penalty of ten times the amount of deficiency as per the directions of the court and on payment of the same but, the said document shall be deemed to be fully stamped. ( amount of penalty may vary fro state to state)
It is brought to your notice hat the deficiency of stamp papers on all documents can be made up by paying the penalty to the extent of its under stamping except for Demand promissory notes on which the deficiency can not be made good.
My above views and advise should not be considered as a legal advise and the same does not create a client attorney relationship between us. The views in the above answer have been given with the sole intention of helping you in solving the matter in issue.
Helpful?
Adv. Rama Chary Rachakonda
Hyderabad | 25+ Answers
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You have to give a legal notice for cancellation of agreement, based on cogent and proper grounds. The agreement has to be shared with us to see any clauses pertaining to refund and cancellation. Even than, we take care of such cancellation.
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Adv. Naveen Kumar Ahir
Hyderabad | 100+ Answers
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