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Cancellation of Property sale agreement
30-Aug-2024 (In Property Law)
We are 4 brothers and there is a ancestral property in Delhi in our joint names. We signed a sale agreement with 10% advance in June 2024 to sell this joint property. The deal will be finalised in Dec.24. Now we have decided to reconstruct the property for our own use. Can we cancel the sale agreement by paying the double of advance money to the buyer as per agreement. The buyer did not want the deal cancelled.
is it a registered sales agreement? or a proper notarized agreement ? if not then we can help you. For the further information you need to share a copy of the agreement . without seeing the agreement I won't be able to suggest anything.
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Adv. Akhilesh Kamle
Delhi | 50+ Answers
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yes ,you can do this , at first send him a legal Notice by stating that you don't want to continue with the sale agreement After paying his money with interest, then you can file a suit for cancellations of sale deed
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Adv. Mukesh Kumar Sah
Delhi | 200+ Answers
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Yes. If there is a clause with regard to that, You have a right to cancel the Agreement and pay double of the earnest money received. Plz note that the buyer have a right to specific performance so it Would be prudent to cancel the deal through a termination letter. Do take assistance from a lawyer for termination
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Adv. Anubhav Kathuria
Delhi | 1000+ Answers
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Yes u can cancel this ATS as per the relevant clauses. Moreover u need to hire expert advocate to frame thr legal notice intellectually to get rid of everything!
Kindly b in touch to discuss this matter
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Adv. D. Khan
Delhi | 1000+ Answers
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