Sale agreement
Querist :
Anonymous
(Querist) 26 December 2011
This query is : Resolved
We are a limited company in Kolkata having 1.7 acres of leasehold land in Hooghly district. We want to sale it to MrX. For which we have decided to proceed by preparing an agreement of sale which our legal department shall draft and a deed of sale of land which shall be drafted by the external lawyer. Sir i am a very junior professional having little knowledge in this area. Kindly explain me what is the difference between this 'agreement of sale' and 'deed of sale land'? Do both require registrations or only the deed require registration?
Thanks in advance,
Anjali from Kolkata
Nadeem Qureshi
(Expert) 26 December 2011
Dear Anjali
The agreement tp sale & sale Deed both tre docuyment should be registered in Sub-Registrar office.
if the agreement to sale is not registered then no need to worry but Sale Deed Should be registered(It is Mandatory)
feel free to call
prabhakar singh
(Expert) 26 December 2011
Before asking about the difference between the two 'agreement of sale' rather I term it "agreement to sale"and 'deed of sale land'rather I term it"a sale deed" YOU AND YOUR COMPANY IS REQUIRED TO KNOW THAT YOUR COMPANY DOES NOT HOLD THE PROPERTY DESIRED TO BE SOLD BY IT AS AN ABSOLUTE OWNER BUT AS LESSEE BECAUSE YOU SAID "We are a limited company in Kolkata having 1.7 acres of leasehold land in Hooghly "HENCE THE OWNER IS SOME ONE ELSE!!!!!!YOUR COMPANY IS LESSEE WITH RIGHT TO POSSESS UNDER LEASE BUT DOES NOT HAVE RIGHT TO SALE.THE SALE CAN NOT BE MADE BY COMPANY ONLY SUBLEASE CAN BE WRITTEN IF THE TERM OF THE LEASE DEED PERMITS A SUBLEASE OR THE LANDLORDS /OWNERS NOW AGREE THERE FOR IN WRITING.
HOW I PROCEED TO EXPLAIN YOU ABOUT WHAT YOU HAVE ASKED AS YOU STATE TO BE JUNIOR IN EMPLOYMENT OTHERWISE I INSIST COMPANIES TO ENGAGE A LAWYER.
AN AGREEMENT TO SALE IS AN INSTRUMENT BY WHICH AN OWNER OF A PROPERTY AGREE TO SALE HIS PROPERTY ON A FUTURE DATE UNDER TERMS AGREED.WHILE A SALE DEED IS AN INSTRUMENT BY WHICH OWNER SALES HIS OWNERSHIP THEN AND THERE.
IN MOST OF THE STATES AND REPORTEDLY IN KOLKATA ALSO
AN AGREEMENT TO SALE CAN BE MADE BY AN UNREGISTERED INSTRUMENT BUT NO WHERE IN INDIA A SALE DEED CAN BE MADE BY ANY UNREGISTERED INSTRUMENT.ANY THING 'AGREED' WHEN REDUCED IN WRITING IS CALLED 'DEED' BUT WHEN REQUIRED TO BE STAMPED BY STATE LAW IT IS ADDRESSED AS AN'INSTRUMENT'.
Sankaranarayanan
(Expert) 26 December 2011
Well indicated by mr prabhakr singh I do agre with his sugesstioopn
vswaminathan
(Expert) 27 December 2011
“No where in India a sale deed can be made by any unregistered instrument.”
As it is a commonly known and widely accepted proposition, none would have ever imagined even in his wildest dream that ‘practice’ could have been any different. That being so, is it not a sad commentary that this clear -cut position in law came to be made an issue, had to be taken up North, to the apex court, requiring it to intervene, ‘cry foul’, and thereby put an end to the highly irregular and illegal practice that had been going on for several decades? The reference is to the court’s ruling against sales effected through a dubious instrument, called ‘GPA’, @ link>
http://feedproxy.google.com/~r/taxguru/CWWK/~3/fmrrvJ4vky4/general-power-attorney-legal-sanctity-immovable-property-sold-transferred-registered-deeds-sc.html?utm_source=feedburner&utm_medium=email
vswaminathan
(Expert) 27 December 2011
IN CASE OF DIFFICULTY IN OPENING THE LINK, TRY THE HYPERLINK IN BLOG >
http://vswaminathan-vswaminathan-swamilook.blogspot.com/2011/12/lci-sale-agreement.html
