We help our clients to make safe legal sale / transfer of property transaction to
avoid future litigation.
Legally, the transaction of selling or buying property involves various steps such
as: Verifying title of the property, is the property free from any encumbrances,
mortgage, litigation, unpaid dues etc. After verifying the above one can enter into
sale agreement which is different from registered sale deed.
the sale agreement is an agreement between the buyer and seller to agree to the
terms and conditions for selling and buying property. this agreement binds both
the parties and the same is enforceable in the court of law. The terms and conditions
should be clearly drafted in regards to advance/token amount, possession, transfer,
remaining payments, mode of remaining payments, fluctuations in the property market
etc. One of the ingredients of the sale agreement is that of advance amount/token
amount. Once the sale agreement is signed the next important step is to execute
Sale Deed. The sale deed should be registered by paying stamp fee etc.
According to The Supreme Court of India valid transfer of immovable property can
occur only through a registered deed of conveyance. As a consequence, all buyers
who have purchased property through sale agreement, GPA and will transfer must now
rectify their title of ownership by paying the appropriate stamp duty and registration
fees. Otherwise, the rights of such buyers to further transfer or sell the immovable
property in future will be adversely affected.