Although the signing of the sale agreement does not mean that the sale has been completed, it is a decisive step in that direction. For this reason, buyers must be fully aware of the terms and conditions set out in the agreement. In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. It is valid, but the value of the stamp paper must be proportional to the value of the plot. You can pay for the undervalued stamp paper later, if it is established that the stamp paper mentioned was undervalued » « The locked-in property can only be transferred by a deed of transport (deed of sale), duly stamped and legally registered. We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation. If two parties agree on a real estate transaction, they enter into an agreement. This agreement is referred to as the purchase agreement. This agreement contains all the conditions under which the sale of the property will be carried out. Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. The agreement is valid in 100 Rs stamp paper and even if it is not done on stamped paper, it is valid. In fact, even a verbal sales agreement is legally applicable. You need a letter from the seller`s mortgage bank.
In this letter, it should be said that the bank will unlock the original real estate securities after finalizing the full and final account of the seller`s loan outstanding. You can give the rest of the money to the seller if the papers are unlocked. Note that the banks indicate a date within which you must make the full and final settlement. Sales execution is executed when the final transfer of ownership is transferred from seller to buyer. While the sales contract gives you the future right to buy the property, the actual transfer of ownership will only take place if you execute a sale agreement with the seller. The sale loan must be registered with the sub-chancellor and stamp duty must be paid. The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the construction-buyer agreement and not from the date of registration of the project under the Real Estate (Regulation and Development) Act 2016. The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. Remember here that both parties must respect the terms of the sale agreement. Any party that does not comply with any of the terms of the agreement could be brought to justice if the other party so wishes.