Final payment 'on possession"

Dr. Shekhar (Querist) 19 March 2014 This query is : Resolved
What does final payment 'On Possession" means ? My builder is asking me to pay him by giving me letter that the property is ready for possession although the buyers agreement mention clearly final payment to be made 'on possession'. Is he justified and lawful and should I pay.?

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Devajyoti Barman (Expert) 19 March 2014
This is quite common .
However you are not bound to do this.

Dr. Shekhar (Querist) 19 March 2014
Sir, Thanks. Could you kindly let know what actually 'possession''means ? Is it the stage when the sale deed registration is done ?

ajay sethi (Expert) 20 March 2014
possession is when flat keys are handed to you .

T. Kalaiselvan, Advocate (Expert) 23 March 2014
Possession is when you physically take charge of the house by taking over the keys of the house property.

Sudhir Kumar, Advocate (Expert) 14 April 2014
fresh thread at

http://www.lawyersclubindia.com/experts/Final-payment-On-Possession--460486.asp

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