Legal Question in Real Estate Law in India
time limit for suing on financial dues
Transfer fee on our flat which was bought in 2002 is not paid till date.
1) Isn't the time period ( 7 years)that has passed long enough to avoid being prosecuted or sued?
3 Answers from Attorneys
Re: time limit for suing on financial dues
The prosecution may depend upon facts and circumstances of each case. therefore, no clear answer can be recorded to your question.
Re: time limit for suing on financial dues
Your query is too illogical to say it in general the transfer fee and the process of transfer itself means that the product or property u buy is to be transferred in your name if you are to be known as its owner,but if you say will I be freed if the time is barred for such transfer and you don't want to be called or known as the owner of that particular property then what it looks.Remedy is: You have to pay some penalty to the late transfer fee and get the flat transferred in your name and if you don't then nobody is going to prosecute u but the ex owner of the property shall get a chance to prove his ownership of your flat if he claims to be.
Re: time limit for suing on financial dues
If you don't want title of flat in your name, you need not pay.
Related Questions & Answers
-
Transfer fee co-op housing society My father had bought a flat in 2002 in... Asked 7/11/09, 5:09 am in India Real Estate and Real Property
-
Real estate Can a foreighner buy property in india? Asked 7/11/09, 3:29 am in India Real Estate and Real Property