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In hire purchase, when is the ownership transferred and on what basis?

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Question added by padmakumar pathiyil , Marketing Consultant , Management Consultancy
Date Posted: 2014/11/08
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

In hire purchase though the Possession is immediately transferred the Ownership is passed on to the buyer when the consideration to this effect is fully paid and the relevant documents are duly transferred/passed on to the buyer so as to make  the buyer a legal ownership to the possession.

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