New Click here to enroll in UIICL SO Finance and Investment Course

    Register

    Question

    A sells a property owned by him to B and C. B and C are different buyers and have purchased the property in two unequal halves with different amount of purchase money paid to A. In such a situation who is entitled to the documents of title of property?

    A A is entitled to keep. Correct Answer Incorrect Answer
    B B and C any one can Correct Answer Incorrect Answer
    C One who has purchased with greater value is entitled. Correct Answer Incorrect Answer
    D One can keep notarized copy of the titled documents Correct Answer Incorrect Answer

    Solution

    Section 55 of  Transfer of Property Act -(3)Where the whole of the purchase-money has been paid to the seller, he is also bound to deliver to the buyer all documents of title relating to the property which are in the seller’s possession or power: Provided that, (a) where the seller retains any part of the property comprised in such documents, he is entitled to retain them all, and, (b) where the whole of such property is sold to different buyers, the buyer of the lot of greatest value is entitled to such documents.

    Practice Next