The deed of sale is the most important legal document by which a seller transfers his right of ownership to the buyer, who then acquires the absolute ownership of the property. A purchase agreement is an agreement to sell a property in the future. This agreement sets out the conditions under which the property in question is transferred. The Transfer of Ownership Act of 1882, which governs the purchase and transfer of real estate, defines the sale contract or a sales contract as sub: If the seller does not sell or hand over the property to the buyer, the buyer obtains a right to a special benefit in accordance with the provisions of the Special Discharge Act. , 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale. In the absence of a deed of sale duly stamped and registered, no right, property or interest for a property, the buyer of the property. Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. The sale contract may or may not lead to an effective sale of the property in question.
Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport record, as well as a proper transport record, are subject to the same stamp duty as the one in force for the proper sale of a property. Under these provisions, which require the payment of stamp duty on a sales contract, a sale agreement is wrongly considered a good act of sale. In the future, a sale contract will be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. «A contract for the sale of real estate is a contract for the sale of the property on the terms set by the parties,» section 54. Section 54 adds, «It does not in itself create interest or royalties for such real estate.» The above definition shows that a sales contract contains a commitment to transfer the property in question under certain conditions in the future. This agreement itself therefore does not create any rights or interests on the property for the proposed buyer. The sale contract may or may not lead to an effective sale of the property in question. Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport report, as well as a proper registration of transport, are subject to the same stamp duty as that applicable to the correct sale of a property.