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Sale Deed for Land (Drafting)
The purchase or sale of property is not legally complete until a sale deed is signed between the buyer and the seller. Usually a sale deed is signed only after both the parties are satisfied and comply with the terms and conditions as said in the agreement. Details like complete name of the buyer and the seller along with their addresses are included.
A sale deed is one of the most valuable legal documents in a purchase or sale of a property. It is governed by the Registration Act, Transfer of Property Act and Stamp Act and other state laws. Sale Deed is an important document for both the buyer or the transferee and the seller or the transferor.
The purchase or sale of property is not legally complete until a sale deed is signed between the buyer and the seller. Usually a sale deed is signed only after both the parties are satisfied and comply with the terms and conditions as said in the agreement.
Details like complete name of the buyer and the seller along with their addresses are included. Other details like the details of the property under sale, the identification number, the property location, the property address, the total area of the property and others will be included.
FEATURES OF SALE DEED
1. IMPORTANT IN LEGAL MATTER: A valid sale deed is attested by two witnesses, one from seller’s side and one from the buyer’s side. In case of any dispute in future sale deed is the legal document which is attested by two witnesses who are competent to contract. Sale deed is legally enforceable document.
2. DEFAULT CLAUSE: Sale deed included default clause so in any case of default from buyer or seller then as per the clause mentioned in the sale deed party defaulting should have to pay a penalty to the non-offending party.
3. VALID PROOF OF TITLE: Sale deed is a valid proof of ownership of the immovable property. Because while preparing Sale Deed normally legal consultants take Search of that immovable property and gives Title Report and on that basis and references has taken in Sale Deed towards clearance of Title.
4. DESCRIPTION OF THEPROPERTY: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 property schedule must be incorporated in the sale deed to define the accurate location of the property.
5. 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.
6.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.
Passport photo of all parties.
PAN card of all parties.
Aadhar card of all parties.
Utility bill of Electricity or Telephone.
Valid Address Proof of all the parties.
Valid Driving Licence of all the parties.
Terms and Conditions
Terms and Conditions between the parties.
Other documents will be intimated through e-mail.
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.
It is accomplished through a Sale Deed, while an agreement to sell implies future transfer. Risks are transferred immediately in Sale, whereas they remain with the seller in case of Agreement to Sell. A Sale is an executed contract, while an Agreement to sell is an executory contract.
Sale deed remains valid from the date of its execution there is no time limit for the same. This sale is meaningless and the transfer of this property by your father to this fellow is not a valid transfer at all.
If the sale or purchase deed is misplaced, an indemnity bond needs to be furnished by the seller. If the sale deed is lost, you can obtain a duplicate certified copy from the concerned sub registrar's office.
A sale deed is a legal document that proves that the seller has transferred the absolute ownership of the property to the purchaser. Through this document, the rights and interests in property are acquired by the new owner.
A registered instrument of sale cannot be cancelled at all, there can only be reconveyance from the purchaser to the vendor. In case the sale deed has to be cancelled, it can be done only by a civil court under section 31 of the Specific Relief Act.
Draft Sale deed is the paper which contains the details of both the parties involved in a contract. It is signed by the advocate of purchaser and is made on non-judicial stamp paper.
A sale deed is a legal document that records the sale and transfer of a property. When you buy a house, a sale deed seals the deal between you and the seller. The value that you have paid to the buy the house is also recorded here.