Sale Deed for Flat (Drafting)
SALE DEED FOR FLAT
Sale deed is the most valuable legal document On the basis of sale deed you shall be allowed to proceed with registration and mutation of the property. 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.
FEATURES OF MEMORANDUM OF UNDERSTANDING
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.