Stamp Paper For Plot Sale Agreement
What the sales contract creates is a right for the buyer to buy the property in question under certain conditions. Likewise, the seller obtains the right to obtain the consideration of the buyer if his part of the general conditions of sale is respected. In 2012, in the case of Suraj Lamp & Industries (P) Ltd (2) v Den, while dealing with the validity of sales of real estate by proxy, the Indian Supreme Court ruled as follows: the deed of sale is a legally valid document that defines the terms of the sale. It is executed by the seller and the buyer for the transfer of ownership of the property. It describes important information about the price to pay, the description of the property, how and when the owner is transferred to the buyer, etc. It is an essential document, because it is proof of ownership of the property. `Any contract of sale (agreement of sale) which is not a registered deed of assignment (deed of sale) would not satisfy the requirements of sections 54 and 55 of the Transfer of Ownership Act and would not confer title or interest in immovable property (with the exception of the limited right granted under section 53A of the Transfer of Ownership Act).` A contract of sale precedes the deed of sale and is a legally authorized document. This agreement is necessary if you get a home loan to finance your purchase. This agreement also reflects the money paid by the buyer as a booking amount or acomptt for the purchase of the property. The sales contract is executed on an extrajudicial stamp document and contains the following details: Even if the signing of the sales contract does not mean that the sale has been concluded, it is a decisive step in this direction.
For this reason, buyers need to know precisely the conditions set out in the agreement. The deed of sale must be registered with the local sub-regulatory office. An unregistered certificate of sale has no value in the eyes of the law. The deed of sale is written on extra-judicial stamp paper purchased at the rates of the state county. The deed of sale is the most important legal document by which a seller transfers his right of ownership to the buyer who then acquires absolute ownership of the property. A contract of sale is a contract for the sale of real estate in the future. This Agreement lays down the conditions under which the property in question is transferred. . . .