Sale Deed

Sale Deed is the most valuable legal document that the buyer shall possess upon purchasing a property. He or She will be permitted to continue with the property registration as well as mutation with the Sale deed. The Sale deed or Purchase deed is drawn upon a non-legal stamp paper by lawful draft person as per the worth recommended by the stamp duty act of a state.

Whenever someone purchases or sells property, the transactions isn’t legitimately substantial without the purchaser and merchant signing the sale deed within the sight of two observers. As governed by the Registration Act, 1908, sale deed is the most important document for selling or purchasing property in India.

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Important Elements of Sale Deed

Sales Deed in India is governed by the Section 54 of the Transfer of Property Act 1882. There are 5 critical elements of Sale Deed that we can mention in here.

The property for which the sale deed is being created,

The seller is the previous owner of the property would sign on the Sale Deed to transfer it to the purchaser,

The Purchaser is going to acquire the property from the seller,

The total value of the property would be paid or payable to the seller by the purchaser. Both the parties may negotiate for the payment terms as when and how the payment would be completed,

The provisions of moving the possession of the property, from the merchant to the purchaser,