A buyer of immovable property has rights and liabilities. According to the Transfer of Property Act, buyers of immovable property are entitled to some rights and have some responsibilities, which they need to fulfill statutorily. A buyer is should disclose to a seller any fact as to the nature or extent of the seller’s,interest in the property of which the buyer is aware, but of which he has reason to believe that the seller is not aware, and which materially increases the value of such interest.

   Also, the buyer is liable to pay or tender, at the time and place of completing the sale, the purchase money to the seller or such person as he directs. The payment should be as per the agreed terms and conditions. Where the property is sold free from encumbrances, the buyer may retain out of the purchase money the amount of any encumbrances on the property existing at the date of the sale, and should pay the amount so retained to the   persons entitled to get the encumbrances released.

    In addition to this, where the ownership of the property has passed to the buyer, he has to bear any loss arising from the destruction, injury or decrease in value of the property not caused by the seller. The buyer becomes liable for any loss or damage to the property as soon as the buyer becomes the owner and the seller ceases to be the owner of the property.

    Moreover, where the ownership of the property has passed to the buyer, as between himself and the seller, the buyer is liable to pay all public charges and rent which may become payable in respect of the property, the principal money due on any encumbrances subject to which the property is sold, and the interest due later. Once the ownership has been transferred to the buyer, the buyer is liable to pay all the statutory charges like municipal taxes, property taxes, electricity, water charges etc.

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