Sale agreement cancellation due to non payment of due amount
31-Aug-2023 (In Property Law)
Dear expert, I have done unregistered sale agreement of my property for 20 lacs on 20 Feb 2018 for the period of 4 months and taken payment in 2 instalment,1 (4lacs at the time of agreement),2 (6 lacs) on 15 July 2018 after the time period of 4 months on his promises to do full payment in 10 days, duly signed by me on original agreement paper which the other party had been keeping with him,I haven't extended agreement date on written,till now full payment have not been done, thus I want to cancel this agreement ,what is the right process for me to do
Since the agreement is unregistered, there is no need to get canceled through any legal procedure. It would be suffice to send an written information in this regard that due to non compliance of agreement conditions, it is being cancelled.
Though unregistered agreement of any type do not considered as conclusive agreement under eyes of law but it can be produced as an evidence . As such if one party failed to abide the terms and conditions of agreement 2nd party is well within his right to terminate the agreement
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