Cancellation Of Mortgage Deed Format
Description
How to fill out California Deed Of Rescission - Individual To Individual?
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FAQ
Cancellation of sale deed refers to the revocation of the purchase and sale of property. A sale deed may be cancelled if any party involved is unsatisfied with the deal and makes a claim regarding the same in the court of law.
A duly signed sale deed may be cancelled by a civil court at the insistence of the seller, as prescribed under Section 31 of the Specific Relief Act, the HC has ruled. Section 31 of the Specific Relief Act, 1963 talks about the circumstances in which a cancellation may be ordered.
Cancellation of the Mortgage is done at the Registry of Deeds, but filing for annotation and cancellation of Chattel Mortgage can be done at the LTO. However, it can't just be any LTO office.
A deed of cancellation leads to the rescission of the contract, and as per Section 62 of the Indian Contract Act, any rescission must be done only bilaterally.
Obtain a release. Once the termination has been agreed upon and any fees have been paid, request a written release from the lender. This document will confirm that the mortgage agreement has been officially terminated and that you are no longer obligated to the terms of the loan.