Payment to seller of flat
suguma
(Querist) 19 February 2013
This query is : Resolved
i AM IN THE PROCESSING PURCHASE OF A FLAT IN THE NAME OF Sri Gopalan. [ he is married and has 2 major children wife is alive and has declared in the agreement of sale that the property is self acquired] He is insisting to remit the sale consideration by RTGS ie.direct credit to his Bank account with Corporation Bank, Borivali east Mumbai. From the account particulars I note that the account no. furnished is in the joint name of Sri.Gopalan and Mrs.Sujata Gopalan. Is it safe for me deposit the cheque issued in the name of Sri.Gopalan directly to his Bank account or request My Bank to remit the Sale consideration of the flat directly to his account through my Bank a/c ? Whether his wife will claim that amount and again gopalan may claim balance 50% from me. Is it legally ok to remit to his a/c by me through RTGS NEFT mode of Bank transfer? Is it better to issue pay order or DD in favour of Gopalan and handover to him and obtain receipt. Then if he deposits in joint account will the wife can claim that 50% belongs to her and hence gopalan has right to claim balance from me. Kindly guide me/
ajay sethi
(Expert) 19 February 2013
obtain a letter from seller to remit the sale proceeds in joint account through RTGS ,or have said clause incorporated in agreement .
when he gives a letter to said effect he cannot tomorrow claim that money was worongly transferred to his joint account
if you are feeling jittery about said affair issue a demand draft in name of seller .
when you are purchasing a property worth a crore it is better to p[lay safe
