K.Shanmugam vs C.Samiappan on 10 September, 2013
"23. The ratio laid down by the Supreme Court is that the
buyer shall have a statutory charge over the immovable
property under Section 55 (6) (b) of the Transfer of Property
Act, 1882. The said view has been followed by various High
Courts including the Division Benches of this Court. Citing all
6/8
https://www.mhc.tn.gov.in/judis
AS.No.785 of 2009
those decisions shall not be necessary. Suffice to state that
now it is a settled position of law that limitation for refund of
advance money with interest under an Agreement for Sale of
immovable property is governed by Article 62 of the Limitation
Act as the buyer has got a statutory charge over the property to
the extent of interest of the seller and that hence the period of
limitation shall be 12 years from the date on which the right to
sue for the refund of advance amount accrues. "