Sale Deed

How do you get a Sale Deed?

You might have heard of selling and buying of properties across the country, but what truly marks or officially proves the transaction between the parties is the sale deed in India.

This sale deed is a legal paper or document that marks the transfer of ownership officially. Only this agreement can truly prove the said property ownership transfer from the seller to the buyer.

Features of a sale deed in India

The sale agreement not only informs about the property particulars, but also the details relating to the rights and responsibilities of the parties involved.

You might have seen the sale deed referring to the seller as the ‘Vendor’ and buyer as the ‘Vendee’ in its content. The sale agreement is under the governance of the Registration act, 1908.

Why is a sale deed in India important?

The major objective of this legal paper or document is to declare the transfer of ownership rights and responsibilities from the seller to the buyer.

The entire ownership of a property depends upon the sale agreement. Hence it is extremely important and unavoidable to professionally draft one. This can be ideally done with the assistance of the best online advocate consultation.

You can easily hire a lawyer online at Insaaf99.com according to your preference and requirement. You can also use our online advocate advice for better convenience and comfort.

However, if you choose the ‘online lawyer consultation’ service you can conveniently proceed with your ‘sale agreement drafting’ with professionally experienced lawyers without wasting any extra time, energy or money.

What is included in the sale deed?

• The name and other information relating to the parties involved in the transaction must be included in the sale agreement formed.
• The seller must inform about the minute details relating to the property being sold in the agreement paper. The details may include the total property area, its identification number and the precise location.
• As the beginning step, the parties must initially come into an agreement to work out and decide over the terms and conditions that will be included in the final sale deed agreement. For this, a prior fee is paid by the buying party.
• The final price at which the sale and purchase is finalised must be clearly mentioned in the dead in both numerals and digits.
• The sale agreement would also include the mode of payment used for the transaction. It may include any of the possible payment methods varying from Cash to net banking to anything that suits the convenience of both parties.
• To seal a sale transaction the buyer must initially pay the token amount to the seller. However, the pending amount can be paid at a later time when the deal is finalised and executed.
• The transfer or change in the ownership clause must be included in the sale agreement.
• On the final execution of the agreement, that is, when the entire payment is made, the seller must hand over the property papers to the buyer.
• Furthermore, the indemnity clause of the sale deed agreement prohibits the seller to pass on any pending utility bills that include electricity and water bills. The seller is accountable for any such dues and no extra charges must be paid by the buyer.

Registration process of a sale deed in India

When you have finalized the sale agreement, you may move forward with a registration process to be held in the registrar office of the particular jurisdiction. The parties must know about the probable stamp duty and registration cost. However, the same will be paid by the buyer or the Vendee.

During the registration procedure, both the parties (the seller and the buyer) must be present at the registrar office. However, to legally bind the agreement, both the parties must also bring two witnesses (each) along.

Furthermore, one must book an appointment in advance for the registration process at the Registrar office.

You would already know and understand all this information in case you have decided to hire a lawyer online. His/her professional experience will undoubtedly help you save your time and effort.

Why should someone get a legal sale deed?

The major benefit or advantage of drafting a legal sale deed in India is that a person or party can easily transfer the ownership to another party in exchange of monetary assets.

Apart from this, there exist several benefits relating to the same that also include the following:

• A sale deed, legally binds both the parties to officially follow the terms and conditions as mentioned in the agreement.
• It helps in executing a property sale transaction in a convenient and hassle free way.
• The official document, precisely details, every minute information about the property, rules, terms and responsibilities to avoid any dispute or disagreement in the coming future.
• It minimizes the possibilities of fraud, gradually lowering the risks involved in an unofficial transaction.
• The entire sale transaction is legally registered and stamped.

To know more about a sale deed or find assistance in any other legal work, you may visit our website insaaf99.com now!