In every process of selling and buying real estate, we begin to sell the transaction through an agreement that can also be called Memo for Sale. It is a document that includes the terms and conditions regulated and decided between the parties and is binding on the parties concerned as soon as the currency change has taken place. It always precedes the execution of a deed of sale and is registered in some states in India for z.B. Maharashtra. Therefore, it is a promise to carry out the entire transaction, as stated in the agreement to sell and has legal sanctity. If a power of attorney is authorized by the proxy agreement, then it can do so. Under the Indian Registration Act of 1908, the sale of real estate worth more than a hundred rupees requires registration. Therefore, if a buyer buys a property as part of a sale agreement, but does not pursue it with the execution of a deed of sale, he is not entitled to the property. On 31 October 2020, a 40-year-old man was arrested by Noida police for deceiving a bank of 2 Crores by forging debt and using loans.
On the same day, the judge of the main meetings of Madurai, G Ilangovan, granted two sub-registries arrested by the Sanddigul Criminal Police Office, an early bail, on charges of recording documents without prior verification. According to the police, they registered the deed of sale without checking the certificate of charge, as well as the original documents, parental documents, death certificate, etc. We show you some of the most important differences between these two, so you have no doubt in your mind about how a sales deal is different from Sale Deed. Take a look! A deed of sale is the document that follows the agreement with the sale and is the main legal document justifying the sale, transfer or transfer of ownership for the benefit of a buyer. It defines the buyer`s ownership over the property and is the main document of each transaction. The execution of this document means that the transaction is concluded in accordance with the terms of the agreement. The document must be submitted for registration within four months of the execution date. An additional 4 months may be granted with a fine payment equal to 10 times the registration fee. In short, a legal document that proves in writing the transfer of property rights from one person to another in return for the price paid.
Without an original deed of sale, it is almost impossible to buy or sell land or build land.