Who is having original MOU ? Don`t deny to builder and stop responding him.
Revoking of MOU with the developer
Myself being the owner of property,undergone a memorundum of understanding 1and 1/2 months before for developing a multistoried building which was supposed to be registered within 60days from the date of MOU. Now I have changed my decision not to move further ahead regarding development and I want to retain my property as before. No allegations against the developer but I am mentally upset .Is there any provision to revoke such MOU before registration? There was no monetory transaction happened so far. Please help.
Asked 6 years ago in Property Law
Religion: Hindu
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14 Answers
In MOU it was mentioned to set right all disputes amicably with both the parties. Now the question is -can a MOU be treated as an aggrement which was not registered? If not revoked by developer , how long this MOU will remain valid? If landowner tries to construct his own house will it be possible? What obstacles may come from developers end?
Asked 6 years ago
It is necessary to peruse terms of MOU entered into between the parties to advice
2) if you seek to terminate MOU developer can file suit seek injunction restraining you from giving contract for development of property to third party
3) claim damages from you
It is necessary to peruse MOU to advice as to period of validity of MOU
2) developer would seek injunction restraining development of property by you
1. MOU is NOT any type of binding agreement. Further only a Registered Agreement is legally enforceable.
2. Serve a proper Notice to the Developer & revoke the MOU, citing health issues etc....
Hello,
Is there any clause in the MoU for revocation or any clause in the MoU for resolution of the dispute.
Regards
Send a notice of revocation to the builder and make a publication in the newspaper to this effect if there is no revocation clause in the MoU.
Since there was no consideration, it will not be treated as a valid contract.
Regards
See MOU can be revoked as per the revocation and termination of the MOU terms mentioned in MOU otherwise the other side can file suit for specific performance of such MOU based on agreed conditions.
See even unregistered it can be taken as proof/evidence of transaction.
MoU shall be valid as per condition of MOU.
The other party can take stay see the MOU needs to be studied to see the termination condition in same.
Hi,
In the present circumstances, you are suggested to inform your decision in writing of change of your mind and cancellation of that MOU.
Dear client
You can just sign a cancellation deed with the developer by saying that you don't have enough money to pay to the developer due to some financial crisis in your family. And can cancel the MOU as there is no transaction between you regarding the deal.
1) MOU can be valid till further redevelopment agreement is not registered with registrar.
It would be better for you to take proper legal guidelines by showing complete files of your case to an advocate so that you can take a right path to handle your issues.
1. Well, the agreement even if a concluded contract can be cancelled or breached by one f parties at any given point of time.
2. However once it is done the party is made to suffer consequences which is mentioned in the agreement or the law of contract.
3. So n your case after making good the loss suffered by the developer on account of cancelling the MOU , you can revoke or cancel the same.
4. However if the developer is not agreeable to the cancellation even if he is compensated , he can file a suit for specific performance of contract in the civil court.
You can revoke the same and intimate the same to him. But he may challenge the same in court. Revoking unilaterally can only be done through court by fiking a suit for cancellation of mou
