Installments – the term is used mostly in the Commercial Law to detail a method of paying the purchase price or a debt in several parts at intervals. Payment by instalments is agreed to make the burden of repayment lighter. In many private purchase contracts, related to buying off-plan properties, this method has been stipulated to secure the rights of both parties for a long term until transfer of the completed property. This is why it is advisable to consult with independent licensed property lawyer before you agree to pay the purchase price on installments.
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