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The Rights and Liabilities of Buyer and Seller defined under the Transfer of Property Act

Buyer’s Rights and Liabilities:

 Prior to the sale closing, he will be required to pay a fee on the assets for the money he purchased, which he will pay in advance of delivery. This amount includes interest on the purchase money as well as the seller’s charge for any unpaid price. He was given the money and prices in a healthy way for the agreement’s exceptional performance or to obtain an order for its recession. Here, after the sale is finalised, he now owns ownership. Any enhancement or growth in the property’s value benefits the buyer.

While considering the liabilities of the buyer, the buyer needs to disclose any fact as to the nature or extent of the seller’s interest in the property to the seller which the seller is not aware of and also to pay the purchase money to the seller. Accept any loss arising from injury, destruction or decrease in the value of the property 

Seller’s Rights and Liabilities:

Seller retains right to rents and profits until the deal is completed and ownership is transferred to buyer. Upon any property held by the buyer or any transferee, the seller is entitled to make charges. The obligations of the seller include providing the buyer with all property-related documentation upon request. ensure that the property is properly maintained from the time of the sale contract until it is delivered.