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. The parties to the contract enter into a property sale agreement when all the conditions set out in the sale agreement are met. The deed of sale is a legal document that supports the transfer of ownership from seller to buyer. A deed of sale is a recognized deed of ownership registered by the country`s civil courts. While a sale agreement is a reciprocal agreement between the buyer and the seller, it may vary from one contract to another. A sales contract therefore demonstrates the willingness of the parties to sell/buy a property in question and culminates with the creation of the actual state of the sale. It cannot be called Sale Deed because it does not create any property rights for the buyer. The absolute deed of sale used in most real estate purchases transfers the property unconditionally going beyond respecting the purchase price.
On the other hand, a transfer obligation can be used at any time if one party wishes to transfer contractual rights to another. Transfer securities are common among mortgage lenders. In conclusion, homebuyers should bear in mind that only a registered deed of sale can facilitate the transfer of property ownership. Those who have acquired a property under a sale agreement are not entitled to the title to the property. You should immediately ask the Seller to prepare the sales file and register it under the Indian Registration Act. As we have already said, Sale Deed will only be executed when the final transfer of the property takes place. With the help of a deed of sale, the rights to the property are transferred from the seller to the buyer. While the purchase agreement is the promise of the transfer, Sale Deed, if this promise materializes in Reality. Also known as Final Deed or Conveyance Deed, this is the greatest proof of ownership. Signing a purchase agreement becomes important given several factors.
First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. Both documents are therefore essential for the transfer of the buyer`s property, although at different stages of the sales activity. However, for the execution of these documents, 2 parts: the buyer and the seller must be present at the transfer of ownership. The seller must be responsible for entering into a sale or sale agreement, as he has an undisputed title on the land that wishes to be sold. There must also be a reflection on the money to place the property for the benefit of the buyer. The transfer of ownership in question is ongoing on the transfer of rights and liabilities related to the property of the subject and such a transfer associated with money leads to a sale that is led by the agreement to sell and ultimately concluded by deed Sale.