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Vendor/Purchaser or Transferor/Transferee?
3 years ago
Hello,
I am buying a flat from someone who was the second owner.
His agreement with the first owner says he was the purchaser and the first owner was the Vendor.
Now for my transaction, my agreement maker says once society is formed, we cannot use the words Vendor/Purchaser and it will need to be Transferor/Transferee.
Can some expert please advice if this is true and whether this difference has any effect from a legal standpoint if my agreement says Transferor/Transferee and not Vendor/Purchaser?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
No such difficulty would arise.
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No such difficulty would arise.
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A.Hi,
A transferor is the party in a legal agreement that makes the transfer of an asset to another party. And in your case, since the law itself says that, you shall be called transferor and transferee, therefore no such problem would arise.
If you find this helpful, please rate us.
A transferor is the party in a legal agreement that makes the transfer of an asset to another party. And in your case, since the law itself says that, you shall be called transferor and transferee, therefore no such problem would arise.
If you find this helpful, please rate us.
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