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Sale Deed
What is Sale Deed?
A sale deed is basically a legal document that enables the owner or seller of the property to transfer the rights of the property in the name of the buyer. Register the property at the local sub-registrar office once the seller draws the sale deed draft. In several cases, people often ask if it is mandatory to get a sale deed registered. Yes, it is very critical to get the sale deed registered. Until a sale deed is not registered, the buyer cannot become the rightful owner of the property in the context of the law.
When it comes to securing your property transactions, Consumer Seva is your trusted partner in the creation and registration of sale deeds. Our expert team specializes in crafting meticulous sale deed documents, ensuring legal compliance and protection of your interests. Don’t navigate the intricacies of property ownership alone—get started with Consumer Seva today. Our streamlined process and expertise in property documentation will guide you seamlessly through the sale deed acquisition, providing peace of mind and clarity in your real estate endeavors. Choose Consumer Seva for a hassle-free and legally sound journey towards property ownership.
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What are the important components of a Sale Deed?
When creating the sale deed draft, several essential components are included in the document. Following are the things that must be a part of the sale deed draft.
- Details of Both the Parties: Details in terms of the name of both parties, contact numbers, and age are recorded in the sale deed draft.
- Property Details: This section includes the property’s details, such as its complete address, area of the property, including the dimensions, details of construction.
- Indemnity Clause: This particular clause is added to the property to ensure that the seller frees the buyers from all the previous taxes, loans, and charges related to the property. Also, the seller will pay up any mortgages and loans before finalizing the sale of the property.
- Payment Details: The price at which the owner will sell the said property should be specified in the sale deed. Along with the sale price of the property, the information related to the advance payment made by the buyer must be stated clearly in the sale deed. Information on the amount paid in instalments, date of each instalment should also be mentioned in the document.
- Mode of payment: The method of payment, i.e., how the amount will be made for the property purchase, must be recorded explicitly in the sale deed. The standard modes of payment, such as bank transfer, cheque, and cash, are clearly stated in the sale deed.
- Possession of Property: The sale deed will record the date the buyer will get possession of the property.
- Witnesses of the Property: The testimonium clause of the property includes that two witnesses are mandatory for attending the sale deed. At least one witness from both sides, i.e., buyer and seller, should sign the sale deed. The witness has to share their complete name, address, and age.