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As per the Transfer of Property Act, 1882, a contract for sale of immovable property creates

Section 54 expressly says that a contract for sale does not, of itself, create any interest in or charge on the property. It creates contractual obligations, while a…

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As per the Transfer of Property Act, 1882, a contract for sale of immovable property creates

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Section 54 expressly says that a contract for sale does not, of itself, create any interest in or charge on the property. It creates contractual obligations, while a completed transfer requires the applicable conveyance. A buyer’s separately arising statutory charge for qualifying purchase money under section 55(6)(b) should not be confused with a charge created merely by the sale agreement.

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