Right way to cancel the purchase deed. Ramaiah sold a property to a person named Akash and registered it. Suppose there is a dispute between two after registration, can the registered deed be canceled without going to court if the person who sold the land wants to? Can the purchase deed be canceled if the person who bought the land wants to? What are the legal options for deregistration of assets?
If the rule is known, the registration of the document can be easily canceled in the office of the Sub-Registrar itself.
With respect to any movable or immovable assets, if the authority of the Sub-Registrar is presented for registration, the Sub-Registrar will register the deeds on payment of applicable fee. However the consent of the buyer and the seller before two witnesses is mandatory.
Deeds registered in this way cannot be withdrawn unilaterally by either the buyer or the seller. If such registered deed does not go well, the buyer and the seller can cancel the registered deed by presenting another document called cancellation deed with the consent of both parties and the sub-registrar will register another deed before witnesses.
As per Article 14 of the Karnataka Stamp Act, stamp duty and registration fee shall be paid for all the other documents except the purchase deed, the fee paid should be equal to the stamp and registration fee paid for the initial registration. In case of cancellation of purchase deed, registration and stamp duty shall be paid on the same market value as the new purchase deed.
Cancellation of Fixed Deeds
In some cases, the sub-registrars themselves keep certain documents suspended and pending without registration.
For example, when the document presented for registration is of undervalued stamp and registration fee which is later subjected for investigation, no appropriate registration fee is paid, when the seller appears before the Sub Registrar in a different time, for documents presented for registration after the prescribed time and private attendance and in other instances the registered documents can be kept suspended
Until the reason for which the registered document has been suspended is completed, the person for whom the document was written can give an application in this period for the cancellation of that document withdraw. Here the consent of the person who is giving the written document is not mandatory. According to rule 193 of Karnataka Registration Rules 1965 one can withdraw any document before registration.
If the registration pending documents are decided to withdraw, then you are entitled to get back 50% of stamp fee and registration fee, through this rule one can cancel the registration of moveable or immoveable property.
