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Cancellation of sale deed of an resale property

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Cancellation of sale deed of an resale property

Last updated: March 13 2019
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  • Cancellation of sale deed of an resale property

    One of my friends had bought an resale property in October 2018 in Bhiwandi, Maharashtra. He was unable to fulfill his commitment of balance payment. Hence wants to cancel the deal.

    We had discussion with an lawyer who told us that the original copies of 1st sale and 2nd sale for cancellation of deal and refund of stamp duty.

    The issue is that the 1st owner has his original agreement mortgaged with his bank which provided him home loan. So he cannot produce the original copy of 1st sale unless the home loan is paid.

    What can be the way out in this situation?

    Will Loan sanction letter from banker be acceptable instead of original sale deed?
    Last edited March 14 2019, 01:58 PM.
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