The Sale Deed is an Agreement which records the sale of an immovable property by Seller to the buyer and through which the ownership of property is transferred in favour of the buyer. It is a main legal document for evidencing sale and transfer of ownership of property in favour of the buyer. Once it is executed, the buyer acquires absolute interest in the property. It is executed subsequent to the execution of Agreement to Sell, and after compliance of various terms and conditions detailed in Agreement to Sell, as agreed upon between the buyer and the seller. It is also referred to as Conveyance Deed.
Precautions before executing a Sale Deed
Buyer should ensure that the following things are in order before executing a Sale Deed-
Parties in a Sale Deed
Owner/Seller-who sells the property
Buyer-who buys the property