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Sale Deed

{An agreement between buyer and seller for sale of property}

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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-

  • title of the property should be clear
  • no charge or encumbrance on the property
  • no outstanding loan on the property
  • property taxes are paid up to date

 

Parties in a Sale Deed

Owner/Seller-who sells the property

Buyer-who buys the property

 

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Contents of a Sale Deed

  • details of parties
  • complete details of subject property
  • sale consideration
  • advance amount paid and mode of payment
  • declaration regarding no charge/ lien on property
  • details of payment of property and related taxes
  • registration of property

Registration of Sale Deed

The Sale Deed in respect of sale of immovable property is compulsorily required to be registered. It is registered in the office of sub-registrar of every area established for this purpose. Both the parties are required to be physically present to register a sale deed. In case one of them cannot be physically present, it can appoint an attorney to represent itself before the sub-registrar.

Note :-

  • Draft template will be provided in soft copy
  • Extra charges will apply for customized document