Question Detail

What are the legal aspects to consider, while selling a home?

By Raj Kumar On Aug 17 2017 1:54AM


Answered by info@realtymedia.in

Below is the lists of some important legal points to keep in mind, while selling a home:

  • “It is advisable to enter into a memorandum of understanding (MoU) with the buyer at the beginning (although it is not enforceable), which contains the details of the proposed transaction and the liability of each party.
  • The sale agreement should be prepared by a legal expert and needs to be reviewed thoroughly, to avoid any issues/litigation in future.
  • The sale agreement contains the clauses for handover of the property and the same has to be respected in letter and spirit. Any delay in doing so, is illegal and is liable for prosecution in a court of law.”

Aug 18 2017 1:42AM