A sale deed is a legal document that contains details of transfer of property ownership from a seller to a buyer. This is one of the most valuable legal documents while purchasing or selling a property.
This document needs to be registered mandatorily and is governed by the Registration Act. You have to be sure of relevant details while purchasing immovable property, like decided price, any dues associated with it, the total area of the property, the transfer of ownership, etc. You need to know the process of sale deed, the necessary elements, and even the sale deed format for this process's proper execution.
Sale Deed is also known as Conveyance Deed. This is a document through which the Seller transfers his right, title and interest in a property to the Purchaser, who, in turn, acquires and holds the same as an absolute Owner. Even though it is not necessary or mandatory to enter into a Sale Agreement before entering into a sale transaction, it is advisable to enter into a Sale Agreement wherein the terms and conditions of sale could be minutely stipulated. Generally, a Sale Deed is executed in accordance with the Sale Agreement and upon compliance with the terms and conditions of the Sale Agreement.
A draft Sale Deed, containing full details of the parties, advance amount paid, mode of balance amount payable, receipt of the balance amount by the seller, handing over the original documents of the property, handing over the possession of the property, handing over the authorization letter to transfer power and water meters, signing of the application for transfer of Khatha, title of the seller of the property, indemnifying the purchaser in case of defect in the title, easement rights, will be prepared by the purchaser's advocate. Such draft Sale Deed should be captioned as draft Sale Deed and shall be signed by the purchaser's advocate.
A copy of the draft Sale Deed will be given to the seller for his approval. The seller and his advocate will verify the draft sale deed and approve it or may suggest suitable deletions, additions or amendments. The purpose is to bring forth the correct intention of the parties to the Sale Deed.
After the report is generated, you will get a dedicated time slot with the senior property lawyer who will clarify all your doubts and help you understand the report in detail. All this is just within 5-7 days.
Are you going for the sale deed registration? Then know about all the essential documents required for the hassle-free and successful registration of the sale deed. Important documents required for the sale deed registration:
We can assist you with all aspects of your purchase/sale of a property – right from the drafting of the agreement to sell, up to the registration. Get property documents verified by our lawyers.
A sale deed is a legal contract or agreement executed between the seller and the purchaser and it acts as evidence for the sale and transfer of ownership of an asset or a property. You have to be confident of relevant details while buying immovable property like the total area of the property, decided price, any dues involved with it, and the date of transfer of ownership, etc.