Sale Deed And Agreement Of Sale

Therefore, both documents play a decisive role in the transfer of ownership to the buyer, but at different levels of the sales activity. However, in order for these documents to be executed, 2 parties must be kept: the buyer and seller must be present at the time of the transfer of ownership. The seller must be able to conclude a contract of sale or a deed of sale, because he has an indisputable title to the property that wishes to be sold. A counter-performance must also be necessary to transfer the property to the buyer. The abovementioned transfer of ownership constitutes a transfer of rights and liabilities related to the property in question, and such a transfer, together with the money associated with it, leads to a sale which is managed by the sale agreement and ultimately concluded by the deed of sale. It consists only of the conditions of sale in the future, on which the buyer and seller agree. Remember here that both parties must comply with the conditions set out in the sales contract. Any party that fails to comply with any of the conditions set out in the agreement may be brought before the courts if the other party so wishes. All parties concerned should also ensure that this document can be invoked as legal evidence before the courts of the law and that all those who have agreed to comply with the conditions are legally bound by it. `Any contract of sale (agreement of sale) which is not a registered deed of assignment (deed of sale) would not satisfy the requirements of sections 54 and 55 of the Transfer of Ownership Act and would not confer title or interest in immovable property (with the exception of the limited right granted under section 53A of the Transfer of Ownership Act).` A contract of sale is a promise in the future that the property will be transferred to the rightful owner, while the deed of sale is the actual transfer of ownership to the buyer.

It is possible that the sale is violated, which leads to legal action on the price and damages, while any violation of the conditions of a sales contract only leads to an action for damages. An instrument of sale is considered to be a compulsory registered instrument, while a purchase agreement differs from one State to another. .