Agreement for sale and sale deed
Querist :
Anonymous
(Querist) 24 August 2011
This query is : Resolved
Dear All,
Please let me know the difference between agreement for sale and Sale Deed?
if there is a agreement for sale, is there has to be a Sale Deed? or Agreement for Sale is enough proof of ownership?
if one executes only agreement for sale, is it sufficient?
ajay sethi
(Expert) 24 August 2011
it depends upon the terms and conditions of agreement. sale of property is usually preceded by an agreement of sale
agreement for sale records understanding between parties which is binding on both .part payment is made by purchasing party to selling party towards consideration amount, possession of the property may or may not be given to purchasing party at the time of executing the agreement, and purchasing party reserves the right to obtain possession, if not given earlier, and a conveyance in his favour from the selling party, on payment of full consideration. Mere Agreement for sale does not transfer any right, title and interest in the property,
A Deed of Sale is a written document executed between the buyer and the seller. It narrates in brief how the seller got the property, what price he is selling the property the sale consideration amount received, his assurances to the purchaser that the property is unencumbered and in case of any claim the purchaser will be indemnified. Both seller and purchaser shall execute the sale deed. A sale Deed must be registered.
Sankaranarayanan
(Expert) 24 August 2011
Sale agreement is the first step and confirming to buy the property from a person to another. but it is not enough for all matter. once the sale deed is making fullstop for trasaction of sale between one to another.
When a person pay the stamp duty to the government for the related property then only the buyer have full legal right and entitlement of the same.
prabhakar singh
(Expert) 24 August 2011
Expert : ajay sethi is right.An agreement to sale precisely speaking is what become a sale
after parties perform their promises made by this agreement.
The agreement to sale does NOT cause title to pass from owner to person agreeing to buy.But by a sale deed title passes forthwith from owner to buyer.Needless to explain that an owner would always be a person either agreeing to sale in lieu of promises made by proposed buyer or a seller completely divesting his title then and there.
Querist :
Anonymous
(Querist) 24 August 2011
Thanks a lot experts....
your opinion is really appreciable..
Thank u so much..
