Rights and duties of a house seller
Are you the proud owner of a luxury flat in Kochi ? Thinking of selling it? There are certain rights and duties of a house seller you should be aware of. These duties and rights are governed by Section 55 of the Transfer of Property Act, 1882. Duties of a seller before the sale: To reveal all material defects to the potential buyers of the property, which they may not be aware of and may not be able to recognise in future. A material defect may have an unfavourable impact on the property value, or will pose a risk to the resident. These defects can include issues like temporarily-hidden seepage issues, unstable building foundation etc. To disclose all such documents of title which are relevant to the property that are in your possession or in your power to access and show to the buyer. To respond to all the genuine and applicable questions asked by the buyer regarding the property or its title to the best of your knowledge. To enter into a contract with the buyer which states that th