CANCELLATION DEED
(Where money transaction has taken place)
This deed of cancellation made this......... day
of......... 20… between ………… (hereinafter
referred to as the BUYER) of the one part and ………..
(hereinafter referred to as the SELLER)
of the other part:
WHEREAS by a covenant …...... made between the
parties hereto and registered in the office of the Sub-Registrar of
........Book No. …., Volume....... Pages..... being No. ......... for the
year……….. it was witnessed that the party hereto of the First part consented to
buy the property fully stated in Schedule thereto as also in the Schedule
hereunder written and hereinafter referred to as the said property at and for
the sum of Rs.......... on terms having therein.
AND WHEREAS the party of the First part paid to the
party of the Other part a sum of Rs....... as earnest money ...... basing said
covenant.
AND WHEREAS the said sum of Rs. ......... was in
terms of the said agreement secured by a charge on the said property.
AND WHEREAS the said covenant is in full
force/virtue.
AND WHEREAS it has now been consented by and
between parties hereto that the party of the Other Part shall refund to the
party of the First Part the said sum of Rs. ......... and also pay a further
sum of Rs. ......... due to all his costs, charges and expenses for searches,
investigation of title and on other accounts by which said covenant shall stand
cancelled.
AND WHEREAS party of the Other part has refunded to
the party of the First part the said sum of Rs. ...... and paid Rs.......... as
stated above which the party of the First part doth hereby as also by receipt
hereunder written, confirm, acknowledge and admit.
And whereas party of the Other part has also
returned to party of the First part the said covenant for sale dated the
............... endorsed as abrogated.
NOW THIS CONTRACT WITNESSETH that for the
consideration as aforesaid the party hereto of the First part doth hereby
consent, declare and confirm that he bear no right, title, claim or interest in
said property under and due to hereinbefore stated covenant for sale which
stands annulled with immediate effect and shall hereafter bear no force and
effect whatever and further that the party of the First part doth hereby and
hereunder discharge, reassure, allow release, the said property and every
portion thereof unto and to the party of the Other part discharged and freed
from charge, security, claim, created and due to said agreement for sale as
aforesaid and all claims, demand, cause of action emerging out of or relating
with same and the party of the First part doth hereby agree with the party of
the Other part that he has not done any deed act or thing by which or by reason
or means whereof he is restricted or prevented from abrogating the said
agreement for sale and/or releasing and reassuring the said property in the way
as aforesaid.
SCHEDULE
IN WITNESS WHEREOF the party of the First part doth
hereunder set and subscribe his hand
and seal the day month and year first
above-written.
Signed, sealed and delivered by the parties
at............ in the presence of:
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