Cancellation of registered agreement for sale of property
*Cancellation of registered agreement for sale of property* 1) If you want to cancel the agreement and don't want to claim any damages, there is no need to go for any legal action. 2) There would be a forfeiture clause in the agreement which would give a right to the vendor to forfeit the token money in case of breach by the buyer. 3) This is in addition to the regular remedy available to the parties through a suit of specific performance of the agreement. 4) There is no need to go for cancellation of agreement, if the agreement itself provides the time period for performance of the contract. 5) In such cases time is essence of contract. If you are still keen on some legal document, you can file a suit for declaration of the agreement having become cancelled. 6) You can also publish a public notice in the local newspaper. *Procedure* 1. The maximum time for the Agreement of Sale to be valid is 3 years. 2. Since the 3 year period is over, there is no need fo...