Sale Deed for Flat (Drafting)

The sale deed or purchase deed is drawn upon a non-judicial stamp paper by Advocates according to the value prescribed by the stamp duty act of a state. When you buy or sell property, the transaction is not legally valid without the buyer and seller signing the sale deed in the presence of at least two witnesses. Governed by the Registration Act, 1908, sale deed is the most important document for while selling or purchasing property in India. 

When you buy or sell property, the transaction is not legally valid without the buyer and seller signing the sale deed in the presence of at least two witnesses. Governed by the Registration Act, 1908, sale deed is the most important document for while selling or purchasing property in India. Sale deed is the most valuable legal document. The sale deed or purchase deed is drawn upon a non-judicial stamp paper by Advocates according to the value prescribed by the stamp duty act of a state.Sale Deed for flat has special features in contrast of Sale Deed for land.

SALE DEED FOR FLAT

 

BASIC INFORMATION

 

The sale deed or purchase deed is drawn upon a non-judicial stamp paper by Advocates according to the value prescribed by the stamp duty act of a state. When you buy or sell property, the transaction is not legally valid without the buyer and seller signing the sale deed in the presence of at least two witnesses. Governed by the Registration Act, 1908, sale deed is the most important document for while selling or purchasing property in India.The deed should contain full name, address, age and residence address of both the parties. 

 

FEATURES OF SALE OF DEED FOR FLAT 

 

1. PROOF OF OWNERSHIP: Sale deed will be your most valuable document for proof of ownership of flat. In case of dispute related to flat ownership court will ask for valid sale deed of flat.

 

2. AVOIDS AMBIGUITY: A Sale Deed clearly defines the acts, rights and obligations of the parties thereby reducing the ambiguity among the parties to the contract.

 

3. DESCRIPTION OF THE PROPERTY: The sales deed must have a proper description of the property you intend to buy. Sale deed includes total plot area, identification number, the exact location and surroundings, the status of construction etc. The property schedule must be incorporated in the sale deed to define the accurate location of the property.

 

4. SALES AGREEMENT: Sales Agreement comes preceding the actual sale deed.This agreement states that both seller as well as the buyer shall mutually agree the conditions and terms of the agreement so that it won't affect the rights of either party.

 

5. CONSIDERATION: The amount agreed between the buyer and seller must be included in the sale consideration clause. This is the amount that the buyer agrees to pay to the seller while executing the sale deed. The sale amount should be stated clearly on the deed, as it was agreed upon. Mode of payment, including the amount of installments is also to be mentioned under payment/ consideration clause.

Documents


Passport Photo

Passport photo of all parties.


PAN Card

PAN card of all parties.


Aadhar Card

Aadhar card of all parties.


Utility Bill

Utility bill of Electricity or Telephone.


Address Proof

Valid Address Proof of all the parties.


Licence

Valid Driving Licence of all the parties.


Terms and Conditions

Terms and Conditions between the parties.


Other Documents

Other documents will be intimated through e-mail.

FAQ

A sale deed is a legal document used in property transactions as evidence for sale and transfer of ownership of property in favour of the buyer from the seller. It is made for the sale or purchase of land or any construction made on it.

The deed is executed by all the parties and all pages of the deed are signed. The deed should be witnessed by at least two witnesses giving their full names, signatures, and addresses. The buyer should ensure the title of the seller is clear before the execution of the sale deed.

A sale deed is drafted on the actual sale/transfer of the property. ... However, the deed is drawn only after all the contractual terms of the sale agreement have been explicitly settled. Moreover, it is mandatory to register a sale deed at the registrar's office under the Registration Act, 1908.

Without Registration you have no legal right over the property even if you have cleared all your dues with the builder. Without registration, a buyer has no legal right over the property so, one cannot sell it to anyone under the Transfer of Property Rights Act.

A legal expert or an advocate drafts the Sale Deed. The buyer purchases the stamp paper in relation to the property value. Registration date is agreed upon by all parties. The registration fee is paid. The buyer, seller, and 2 witnesses arrive at the sub registrar's office to register.

Through registration of Sale deed, a person is able to acquire the rights of the property on the date of execution of the deed. Registering the documents relating to the transfer, sale, lease or any other form of disposal of a property is compulsory under section 17 of the Indian Registration Act, 1908.

Whoever has their name on the deed is the rightful owner of the home, so it's one of the most important documents in buying or selling a home. The seller typically prepares the real estate deed, usually with the help of a title company or an attorney to ensure the property transfers successfully.

What is the difference between agreement for sale and sale deed? An agreement for sale is a promise in future, that the property will be transferred to the rightful owner while sale deed is the actual transfer of property ownership to the buyer