Cancellation of JOINT development AGREEMENT
9 months ago
Can I, as a land owner, cancel an unregistered AGREEMENT for APARTMENT development with a Builder?
A.Dear client,
Yes, you can cancel the agreement. In an unregistered sale deed, the party has to issue a revocation notice for cancellation of agreement so please issue a notice to the builder
Yes, you can cancel the agreement. In an unregistered sale deed, the party has to issue a revocation notice for cancellation of agreement so please issue a notice to the builder
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Raja Sudhakar
Replied 9 months ago
Sir sorry it's not sale deed.Its only an MOU like AGREEMENT to determine the conditions for the proposed JDA of APARTMENT development.
A.Dear Client,
This is a complex transaction, hence we need to review the terms of the Joint Development Agreement to provide you with appropriate guidance. However, in case of an unregistered JDA, that contains a termination clause in the development agreement, you can invoke the said clause and terminate the agreement if the builder has failed to carry out any construction work beyond the agreed period of completion of construction or for breach of any condition of the agreement. Reach out to an Advocate for guidance and service of a legal notice to the Builder and thereafter letter of termination of JDA.
This is a complex transaction, hence we need to review the terms of the Joint Development Agreement to provide you with appropriate guidance. However, in case of an unregistered JDA, that contains a termination clause in the development agreement, you can invoke the said clause and terminate the agreement if the builder has failed to carry out any construction work beyond the agreed period of completion of construction or for breach of any condition of the agreement. Reach out to an Advocate for guidance and service of a legal notice to the Builder and thereafter letter of termination of JDA.
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