Are you a seller of properties? Aren’t you aware of your duties? Continue reading the article and find answers to your questions. Visit the website https://www.h3homebuyers.com/ to help you with the technology involved in selling property. The article will explain knowledgeable points regarding selling a property.
Duties of the seller after the sale:
Normally, we will know the duties before selling a property. Mostly we will flow all the procedures and sell the property safely. But there are some duties of a seller to be followed even after the sale of the property. These include:
- The seller must provide possession to the buyer.
- After the full settlement, the seller must ensure that he has submitted all the documents to the buyer regarding the property.
- The seller should ensure to provide the property to the buyer without any damage. In case of damage, the seller should fix it.
Sellers rights before the sale:
Do you ever know there are acts to state that the seller has rights before the sale? According to section 55 (4)(a) the seller can receive all the rents and profits before the sale. This is applicable even if the property is finalized by the buyer. Until the documents are transferred the seller has these rights.
Sellers rights after sales:
According to section 55(4)(b), if the payment is unpaid the seller can claim back the possession.
Contract for sale:
The contract of immovable property will state the terms of settlement between the two properties. The contract itself will not create any charges or interest on immovable property. To solve property-related issues, it is essential to meet a lawyer to guide you through the process elaborately.
The duties and rules are normally subjected to the contract. In case of any absence of a contract, the rules and regulations are governed by the Transfer Property Act of 1882 in section 55. To make safer moves it is essential to follow all the rules and regulations without fail which is possible at https://www.h3homebuyers.com/. Gather information from https://www.h3homebuyers.com/.