Oiendrila Chowdhury, B.A. LL.B., KIIT School of Law, KIIT University
ABSTRACT
The rights and obligations of purchasers and sellers in real estate transactions in India are outlined in the Transfer of Property Act, 1882.
The rights of the seller include getting the agreed-upon amount, keeping the item until payment is received, and filing a lawsuit for breach of contract. Their obligations include the need to guarantee a clear title, reveal material faults, and grant possession free from claims by third parties.
The rights of the buyer are to demand a legitimate title, obtain possession upon payment, and, in the event of a seller default, to pursue specific performance. On the other hand, the buyer's liabilities consist of having to pay the purchase price, take ownership of the property after it is possessed, and investigate any potential flaws.
By encouraging fairness and clarity, this paradigm reduces conflict and guarantees seamless real estate transactions.
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