CANCELLATION AGREEMENT FOR CANCELLING AN AGREEMENT

TO SELL
NOTE. 1. TO BE TYPED ON STAMP PAPERS OF SUCH AMOUNT AS ARE
REQUIRED AS PER THE RELEVANT ARTICLE OF THE INDIAN
STAMP ACT 1899 AS APPLICABLE TO THE TERRITORY / STATE OF
EXECUTION.
2. TO GET THE CANCELLATION AGREEMENT REGISTERED IN THE
OFFICE OF THE CONCERNED SUB REGISTRAR / REGISTRING
AUTHORITY AT THE PLACE OF EXECUTION IF IT IS MANDATORY
TO GET IT REGISTERED.
3. IF IT IS NOT MANDATORY THAN IT IS ADVISABLE TO GET IT
NOTARIZED AT THE PLACE OF EXECUTION

CANCELLATION AGREEMENT
THIS CANCELLATION AGREEMENT is made
Between

Mr. __________ S/o Shri __________, Mrs. __________, W/o Shri

_________, residents of _______________ (Hereinafter jointly referred to as
the FIRST PARTY which expression shall unless excluded by or repugnant to
the context, be deemed to include their heirs, nominees, successors,
executors, administrators, legal representatives and assigns)
AND
Mr. ____________ S/o Shri ________________ R/o ____________
(__________) (Hereinafter referred to as the SECOND PARTY which
expression shall unless excluded by or repugnant to the context, be deemed to
include his heirs, nominees, successors, executors, administrators, legal
representatives and assigns).
(The above-mentioned parties to this Cancellation Agreement shall also be
collectively referred to as the “Parties” and individually as the “FIRST PARTY”
or “SECOND PARTY”).

WHEREAS:

A. WHEREAS the FIRST PARTY and the SECOND PARTY entered into an
Agreement to Sell dated _________, whereby the FIRST PARTY agreed to sell
to the SECOND PARTY their Apartment No. ________ Tower _______
admeasuring ______ sqft. at ______, SECTOR – ____,
______________, (hereinafter referred to as the “said Property”) as per the
terms and conditions mentioned in the said Agreement to Sell dated
___________.
B. WHEREAS under the said Agreement to Sell dated _________ the FIRST
PARTY has paid to the SECOND PARTY an amount of Rs.________/- (Rupees
______ only) comprising of Rs.________/- (Rupees ______ only) by Cheque
and Rs.________/- (Rupees ______ only) by cash.

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C. WHEREAS the FIRST PARTY and the SECOND PARTY have mutually
agreed to cancel the above Agreement to Sell dated ______ with the condition
that the FIRST PARTY shall refund to the SECOND PARTY the said amount of
Rs.________/- (Rupees ______ only) by issue of post dated cheques and with
immediate effect the FIRST PARTY shall be entitled to sell the said Property to
any other third party on such terms and conditions as the FIRST PARTY may
deem fit to which the SECOND PARTY has no objection.

NOW THIS CANCELLATION AGREEMENT WITNESSETH AS UNDER:-

1. That the FIRST PARTY and the SECOND PARTY entered into an
Agreement to Sell dated _________, whereby the FIRST PARTY agreed to sell
to the SECOND PARTY their Apartment No. _____ Tower __ admeasuring
_______ sqft. at ________, ___________, (hereinafter referred to as the
“said Property”) as per the terms and conditions mentioned in the said
Agreement to Sell dated ___________.

2. That under the said Agreement to Sell dated _________ the FIRST
PARTY has paid to the SECOND PARTY an amount of Rs.________/- (Rupees
______ only) comprising of Rs.________/- (Rupees ______ only) by Cheque
and Rs.________/- (Rupees ______ only) by cash.

3. That the FIRST PARTY and the SECOND PARTY have mutually agreed to
cancel the above Agreement to Sell dated ______ with the condition that the
FIRST PARTY shall refund to the SECOND PARTY the said amount of
Rs.________/- (Rupees ______ only) by issue of post dated cheques and with
immediate effect the FIRST PARTY shall be entitled to sell the said Property to
any other third party on such terms and conditions as the FIRST PARTY may
deem fit to which the SECOND PARTY has no objection.
4. That the FIRST PARTY refunded the aforesaid amount of Rs.________/-
(Rupees ______ only) to the SECOND PARTY by issue of Cheque No. _______
dated ________ for Rs._____________/- drawn on
_______________________ and the SECOND PARTY has permitted the FIRST
PARTY to sell the said Apartment Mr. ______ S/o _______ R/o __________
and Mr. __________ S/o __________ R/o _______________ and Mrs.
________ W/o Mr. _______ R/o __________________ on such terms and
conditions as the FIRST PARTY may deem fit to which the SECOND PARTY has
no objection as the SECOND PARTY has surrendered all its rights, interests
and liens of every nature whatsoever in the said Property.

5. That as a guarantee to the encashment of the post dated Cheques

No.______, dated _______, for Rs.________/- (Rupees ______ only), the
FIRST PARTY has agreed with the SECOND PARTY that the SECOND PARTY
shall have a lien on Apartment No. _____________________ belonging to the
FIRST PARTY to the extent to the said amount of Rs.________/- (Rupees
______ only) and in case of dishonor of the said Cheque of Rs.________/-

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 (Rupees ______ only) the SECOND PARTY shall be entitled to enforced the
same against the Apartment No. ___________________________.

6. That the FIRST PARTY and the SECOND PARTY undertakes to abide by
the terms and conditions of this Cancellation Agreement

7. That this Cancellation Agreement shall be equally binding on the legal

heirs, representatives and administrators of the FIRST PARTY and the SECOND
PARTY.

IN FAITH AND TESTIMONY THE PARTIES HERETO SET THEIR HANDS TO THIS
CANCELLATION AGREEMENT ON THE DAY, MONTH AND THE
YEAR HEREUNDER IN THE PRESENCE OF WITNESSES.

WITNESSES:

1.

( ) ( )
FIRST PARTY
Date:
2. Month:
Year:
Place:

1.

( )
SECOND PARTY
Date:
Month:
2. Year:
Place:

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