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Party did not comply by the Sale agreement, what to do
17-Nov-2023 (In Documentation Law)
I registered my property agreement to sale with a clause that sale agreement should be made withing 3 months from the date of registration of agreement. I received 6 lakhs with a commitment from the buyer that he will raise loan from the bank of Remaining amount. Withing 3 months he didnt registered that sale deed. what are the legal implications of the same? There is no clause in the agreement regarding cancellation of agreement.
Since agreement already speaks about the limitation period for agreement to be valid i.e. execution of Sale Deed within 3 months, you can cancel the agreement. But, still have to go through the clauses in the agreement to guide you appropriately.
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Adv. Bankim Mehta
Mumbai | 200+ Answers
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Sir
I advice you send the notice to buyer and make specific submission that date of execution of sale is expired so direct him to make the remaining payment within 15 days and execute sale deed in 15 days otherwise said agreement will deem to be cancelled...
Amount which paid at the time of agreementwill
I advice you send the notice to buyer and make specific submission that date of execution of sale is expired so direct him to make the remaining payment within 15 days and execute sale deed in 15 days otherwise said agreement will deem to be cancelled...
Amount which paid at the time of agreementwill
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Adv. Kirtikumar K. Kadu
Nagpur | 25+ Answers
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I agree your last comment that there is no clause in the regarding cancellation of agreement however you mentioned your agreement that the sale agreement should be made within 3 months from the date of registration of agreement which the buyer was failed to made. In that scenario the agreement itself clearly terminated though you can send them a Legal Notice mentioning your abovereferred clause.
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Adv. Ashish Kachave
Pune | 25+ Answers
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If you do not wish to sale your property to the party under present agreement to sale then send that party a notice stating the relevant clause in the agreement requiring registration of sale deed within 3 months and inform that party that the due to said clause and efflux of 3 months the agreement has become unenforceable and you are ready to return Rs. 6 lakhs to the party.
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