SALE DEED

A sale deed or a deed of sale, is legally enforceable agreement which documents the transfer of right, ownership and title of a property from the seller to the buyer. The sale or purchase of a property is not complete until the execution of the sale deed.

WHAT TO INCLUDE IN A SALE DEED?

The Sale Deed should include the following:

  1. Description of the Parties
  2. Description of the property
  3. Sale proceeds
  4. Payment Method
  5. Encumbrances  and Indemnity clauses
  6. Delivery and Possession

WHEN TO EXECUTE A SALE DEED?

A deed of sale is executed only after the execution of the agreement to sell and after adherence to the terms and conditions mentioned in the agreement to sell, as agreed upon between the parties.

HOW TO REGISTER A SALE DEED?

Registration of deed of sale includes:

  • Determining the value of the property
  • The actual price paid for the property and stamp duty
  • Purchase of non-judicial stamp paper of the calculated value of the property
  • The deed to be typed out in stamp papers
  • Registration of the property sale deed at the sub-registrar office followed by two witnesses

IS IT MANDATORY TO REGISTER A DEED OF SALE?

As per the Registration Act, 1908, it is mandatory to get a sale deed registered in relation to immovable properties whose value is more than INR 100.

WHAT ARE THE ADVANTAGES OF A SALE DEED?

The advantages are:

  • Describes of the property, the parties, and their rights and obligations.
  • Provides legal recognition the transaction.
  • Registered sale deed can be provided as evidence in case of any dispute

If you are looking for the best legal services and need help with drafting your sale deed, you can reach out to us on bestlegalservices.in

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