A deed of sale is usually a document that transfers the rights of a party with a property of another property. It is designed in the first place as the continuation of the sales agreement. All the conditions mentioned in the sales agreement are met and met in the sales agreement. 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 owner-buyer agreement and not from the date of registration of the project under the Real Estate Act (regulation and development). , 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. In every process of selling and buying real estate, we begin to sell the transaction through an agreement that can also be called Memo for Sale. It is a document that includes the terms and conditions regulated and decided between the parties and is binding on the parties concerned as soon as the currency change has taken place. It always precedes the execution of a deed of sale and is registered in some states in India for z.B. Maharashtra. Therefore, it is a promise to carry out the entire transaction, as stated in the agreement to sell and has legal sanctity. A purchase agreement is an agreement to sell a property in the future.
This agreement sets out the conditions under which the property in question is transferred. Under the Transfer of Ownership Act, a sales contract, with or without property, is not transportation. Section 54 of the Transfer of Ownership Act provides that the sale of a property can only be done by a registered instrument and that a sale agreement does not create interest or fees for its property. If the transfer of the property is made later and it is subject to other conditions, this is called a sales contract. A sales contract is for sale if the conditions are met or if time runs out until the property is transferred.