Legal complications in canceling a sale deed on part of seller
13-Jun-2023 (In Property Law)
I planned to sell my house . I got a customer and he paid token amount of rs.51000/-. property value is 70L. I signed on receipt with a revenue stamp on it. my family is very emotionally attached to the house so I planned to cancel the deal n return the money back. Kindly suggest will I have legal issue if I cancel the deal.
You should call the buyer and express your idea and convenience him about your breach of promise. Offer him the interest for the amount and cancel the same. Please don't take these issues lightly. Mutually agreed cancellation is advisable
There is no Agreement between you and the purchaser and there is only receipt for Rs. 51,000/-. The Purchaser can file suit for specific performance. If he is ready with the balance sale consideration amount, you have to register your property in his favour. If you do not register, the court will register the same on his favour and the balance consideration will be deposited in the court.
Even though you have little chances to win the case just by dodging the case. Do not vacate the possession at any rate. Appoint well experienced and reliable lawyer to defend your case. For Further clarifications contact me through Lawroto.
Even though you have little chances to win the case just by dodging the case. Do not vacate the possession at any rate. Appoint well experienced and reliable lawyer to defend your case. For Further clarifications contact me through Lawroto.
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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