It seems that the owner is demanding interest for delayed payment of sale consideration.He can claim same if mentioned in agreement to sell or is was agreed between the parties.
Buy flat from share holder
dear sir i have booked a 2bhk flat from the share holder(land looser share in the apartment) on 25.11.13.cost of the property was 165000/- .i have paid 250000 to the flat owner and rest of the amount was financed through lichfl. Lichfl was issued the amount but due to 2014 election and strike at registrar office registration of the flat was delayed and amount is not paid to the owner, know the flat owner is demanding the interest amount from when the amount is released from LICHFL. my interest of the loan is deducted for my account regularly from jan-14.
Asked 10 years ago in Property Law
First answer received in 30 minutes.
Lawyers are available now to answer your questions.
4 Answers
1. The owner is in his right to claim interest on the unpaid amount if there is a provision of collecting interest in the agreement entered in to by and between you two,
2. You can write to him a legal letter calling upon him not to charge the said interest since the you are not responsible for the said delay in making paymwnt.
Adv K.K.Ganguly
High Court,Calcutta
if seller is adamant make payment of interest . you can draw attention of the seller to the fact that payment was delayed for reasons beyond your control . housing finance company refused to release funds until sale deed registration was completed for the flat and registration could not be done on account of strike at registrar office
1. I believe collection of interest for delay out of such contingencies certainly must not be written in the sale agreement.
2. Moreover in contract there is clause called ' force majure' which allows the defaulting party an escape route in situations beyond one's control.
3. In this condition I do not think the owner has any right to claim interest on delayed payments.
