We help our clients to make safe and legal sale / transfer of property transaction to avoid future litigation through proper Title Verification, Agreement & Sale.
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.
sale agreement is an agreement between the buyer and seller to agree on 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 ingredient 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 transfers 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.