The Property Sale Act of 1930 clarifies the difference between the sale and the sale agreement. It stipulates that the sales contract is one in which a seller transfers or has agreed to transfer the property in Derob to the buyer for a price. Such a contract may be absolute or subject to conditions. In short, a legal document that proves in writing the transfer of property rights from one person to another in return for the price paid. Without an original deed of sale, it is almost impossible to buy or sell land or build land. The person who pays the price is called a buyer or taker, and the person who transfers the property is designated as a seller or vector. The sales number will have some details that will be displayed below. Take a look! In this context, we would discuss the main differences between the two documents. While a sale agreement promises to transfer ownership in the future, a deed of sale is an effective transfer of ownership. 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. As he cooled down after a big round of tennis, Siddharth Agnihotri, an architect by profession, was talking to his friend Yash about moving to a new house. During the discussion, which focused on various topics, the legal aspect of a ”sale agreement” and a ”deed of sale” were discussed. Knowing that the two are not the same siddharth left stupid. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. Under the Indian Registration Act of 1908, the sale of real estate worth more than a hundred rupees requires registration.
Therefore, if a buyer buys a property as part of a sale agreement, but does not pursue it with the execution of a deed of sale, he is not entitled to the property.