Contract drafting or agreement drafting - An agreement for sale also known as agreement to sell, is a definitive legal document where the seller makes a promise to transfer the property to a buyer on fulfillment of particular terms and conditions. However, buyers execute agreement to sell as a precautionary measure although being aware that this contract of sale does not create ownership of the property by the buyer.
A real estate sale agreement can include matters like:
The sale of real estate property usually involves two deals- (i) the making of the preliminary agreement called the contract of sale and (ii) the delivery of the sale deed in exchange for the purchase price. Hence, an agreement to sell cannot be confused with a sale deed because it does not create any rights on the property for the buyer.
The following enactments govern the real estate transactions in India:
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