Please read your agreement for sale carefully which you have registered with the seller of the flat. Read that is there any paragraph saying due date for payment of Balance amount ? and if not paid by due date what action seller can take ? Only written matter is important if ther are no due date & action, then you are in benefit or else you have to follow the written words. It is better that u should verify the documents legally before paying stamp duty.
Hope that you will comme out of any problem soon.
Regards,
Answered by
Vijay, on Feb 5 at 1:37 am
Stamp duty must be paid on a property only at the time of making the "sale deed" and at the time of making the full payment to the seller. The sequence of events before paying stamp duty would normally be as follows:
>>Property identitifed
>> MOU ( memorandum of understanding) made between parties and token paid by buyer to seller. The period over which the full payment would be made is mentioned in the MOU
>> Title verification of property done by a professional solicitor
>> Apply for a home loan and get sanction letter
>> Buyer pays the down payment to the seller and shows the receipt to the bank and the bank issues the final cheque in the name of the buyer
>> Sale Deed made after making payment of Stamp duty
>> Sale deed signed by both parties, final payment made to Seller and Registration fee paid at the sub register's office
The MOU will stand canceled after one month only if at the time of signing the same this was mentioned in the MOU. A oral MOU can be contested in court.
Answered by
B Malani, on Jan 26 at 1:18 am
