SALE DEED - A legal instrument that is executed between the seller and the purchaser, which evidences the sale and transfer of ownership of immovable property is a sales deed. It is compulsory to register a sales deed as per Section 17 of the Registration Act,1908. An agreement to sell is an essential document in the process of sale and purchase of a property. It is an essential document as it details how the seller acquired the property, like the date of transaction, amount of consideration, etc. It acts as a critical document, especially for the purchaser, as it establishes the property's proof of ownership. There is a proper process to be followed for registration of Sale Deed wherein land/immovable property is prepared by adequate documentation, paying stamp fee accordingly, and getting it registered in the presence of witnesses.
Points to be mentioned on the Sale Deed –
AGREEMENT TO SELL –
An agreement to sell is an essential document for any transaction related to the selling of property. It captures the broad contours of the deal, including the details of property, Sale consideration, brief obligations and date by which the deal should be closed and the final Sale deed to be registered. The parties need to understand clearly and discharge its obligations included in an agreement of sale. It is a contractual property agreement between the buyer and the seller to sell a particular property on the terms and conditions as agreed by both parties. There is a time gap between Agreement to sell and registration of Sales Deed. This is the time when both the parties collate documents, and the buyer conducts due diligence of the property.
An Agreement to Sell includes:
Sabkuch Legal has empaneled the best lawyers who expertise in drafting an agreement to sell & sale deed and get them registered with the Sub-Registrar.
I want to sell my property. What are the documents a buyer would need from me?
A buyer could ask you for the original Sale Deed, Title Deed, relevant tax receipts, and Encumbrance Certificate.
Is it mandatory to register documents for the sale of a property?
It is required to register. One can get it done at the sub-registrar's office of the concerned district.
How much time does the registrar take in the process?
The registrar usually takes 3 to 4 hours in the process of registration of the property.
Can a power of attorney holder sign an agreement to sell?
If a power of attorney is authorized under the Power of Attorney agreement, then he can.
What are all documents required for registering the Sale Deed?
Following documents will be required for registering the property: