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 and 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.
FEATURES OF NON-DISCLOSURE AGREEMENT
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.