Buy property
Gaurav Gujrati
(Querist) 18 November 2013
This query is : Resolved
Dear sir,
I have bought property in thane district, Mumbai and i have made half payment in cheque.now for remaining payments, due to delay of Documentation i could not make my remaining payment in 45 days...and seller says that now because of delay seller will be collected remaining payment by EMI...
So my question is that whether any clause is available in transfr of property act, 1872 that i should make my payment in 45 days..even in Agreement there has not been specifically mentioned in about 45 days...
BAALASUBRAMANNYAMM
(Expert) 18 November 2013
You should make payments, what ever you agreed with the builder that too mentioned in your Agreement of Sale. If the builder agrees to receive the remaining amounts by way of EMIs, it is your discretion and your payment capacity. But this type of adjustments, would not be appeared in Transfer of Property Act,1872 as of you.
Rajendra K Goyal
(Expert) 18 November 2013
Terms of agreement need to be seen, these are not specifically part of TPA.
