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Sale deed
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Sale deed
A legal document well organized and well-crafted creates a rooted benefit when rights are created in favor of parties. The simplest term of Sale means to transfer ownership, to transfer rights of an owner from one person to another. The immovable properties for being transferred and executed require a draft of agreement to sell in the first instance itself. A sale deed must be necessarily registered. AcreOK provides drafting services so that your most important criteria is met, and the other one is Registration when again AcreOk comes to the rescue and gets you started.
A deed of sale is an instrument of transfer to show the legitimacy of the transactions relating to a property. It is a legal document that holds an evidentiary value and creates a nexus between the parties involved. The seller of the property transfers the right of ownership to the buyer through a sale deed. As soon as the document is signed, the buyer becomes the complete owner of the property. A sale deed is executed only when both the parties agree on the same point in the same sense. The person selling their property must be termed as seller or lessor and the person who takes the property or to whom the rights are transferred must be termed as buyer or lessee
DOCUMENTS REQUIRED
· The property details mean the description of the property and relevant property documents like a title deed.
· The mortgager must present address/ID proof, Tax Paid receipts, Khatha etc.
· The seller must show all relevant documents of ownership to prove this competency to transfer.
· A non-encumbrance certificate lastly is the most important document to show, free title, and no dues.
PROCEDURE FOR A VALID SALE DEED:
The valid procedure for registration to be followed are:
· The first step is to create a draft of the sale deed that too with much caution and care
· The seller of the property must have all the proofs showing him to be the true owner in the real capacity to transfer the property.
· The sale deed is executed after the execution of the agreement to sell; the deed must set out the terms and conditions very specifically along with rights and liabilities and consideration paid or to be paid.
· All the material aspects regarding such transfer of right must be scrutinized and negotiated by parties in same consensus like property tax, water charges, electricity supply etc…
· This legal draft contains the subject matter of the sale along with the details of the parties, the property, the sale consideration, the advance payment, the dates, the mode of payment, the time for handing over the original documents and the possession of the property and its prescribed mode of operations for legitimate execution.
· The sale deed draft must be printed on a non-judicial stamp paper of value prescribed by the state government of the jurisdiction.
· The deed must be duly signed by both the parties, and it is mandatory that the deed should be signed by at least two witnesses, with their full names and addresses.
· The sale deed is registered at the sub-registrar's office, which is mandatory as according to the Indian Registrations Act, 1908 where they must be present with their original documents, the deed must be properly stamped and registration charges to that effect must apply.
· After the execution of the sale deed it must be registered within 4 months with the registrar, delay may give a grace period for another 4 months.
A sale deed is a very crucial document of transfer, and its document is to be drafted very cautiously and AcreOk understands that very need and we know how to just fit in right and solve all your issues with respect to registration, because our service is a bundle, where we draft the concerned document, help you in registration and even accompany you to sub-registrar office, and all we expect from you is a leap of faith.
Frequently Asked Questions
The donor on requisite stamp paper should sign the deed. It must be attested by at least two witnesses; the donee should accept the gift.
Gift of movable property, may or may not be registered. But the delivery of the property and acceptance of it is essential
No. When you give someone a Power of Attorney, you still have the right to control your money and property. However, you are giving your agent the ability to access your money. Your agent is not supposed to take or use your money without your permission, but there is a risk that a dishonest or unscrupulous agent might steal your money. It is therefore important to choose an agent you trust. You must go over the agent's duties before you sign your power of attorney.
A legal document that removes a previous claim or lien on an asset. A deed of release is usually issued once a mortgage or other type of debt, previously secured against the asset, has been paid in full.
Any person above the age of 18 years and mentally sound may execute Will, but a Will caused by fraud or coercion or by importunately will not be valid and can be examined by a competent civil court. Therefore, a Will must be executed voluntarily.
Parents or guardians cannot execute Will on behalf of minors or lunatic children.
A Will must be attested by minimum of two witnesses is necessary.
A Scribe (deed writer / advocate) cannot be called witness because they have signed the Will in column of drafted by. Thus, two independent attesting witnesses other than the scribe are necessary.
A Beneficiary under a Will should not sign as attesting witness. In order to avoid disputes in the implementation of a Will, a description of the property and the name of the beneficiaries should be clearly written so that there is no room for doubt.
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