Hello everyone,
one of my clint has purchased a residential house property for 20 lacs.
he made payment of Rs.10 lacs at the time of registeration on 01/03/2013 and bal pmt was to made by housing loan. no date/time limit was mentioned in the sale agreement for making bal pmt.
However his loan application was rejected from two banks and 2 months wasted ( due to agents fault). Now his third hsg loan is in process and it will take 10-20 days.
The transferor is harrasing him like anything because he has also purchases some property and he has to also make payment. He has given him 2 days time otherwise he wl have to pay interest @ 7% p.m. (not mentioned in the sale deed) and he has also told that he may sell the property to someone else.
My client is very simple person and has intention to pay.
My question : 1. can he charge 7% int pm ( not mentioned inthe agreement)
2. can he sell the property (becoz legally my client is the owern ?
3. What are the rights of the owner in such a situtation ?
waiting for the views of the experts.
CAclubindia
