For the registration of the sales writing or agreement, you must be physically present at the town hall, otherwise it can be considered an act of change of identity and invalid and illegal. Under the Transfer of Ownership Act, a sales contract, with or without property, is not transportation. Section 54 of the Transfer of Ownership Act provides that the sale of a property can only be done by a registered instrument and that a sale agreement does not create interest or fees for its property. In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. The Transfer of Ownership Act of 1882, which extends to the whole of India, finds in Section 53A that if a buyer has paid the part of the consideration and taken possession of the property in accordance with the terms of the contract and such a transfer is not registered, the purchaser is excluded from asserting his rights to that property against the purchaser. This is true if the document is not registered, but it contains provisions such that under the Indian Registration Act of 1908, any agreement to transfer an interest in a property of more than one hundred rupees must be registered. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. «Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act).» Section 17 of the Registration Act, 1908, clearly states that all documents containing land transfer contracts such as land, buildings, estate premiums, fishing, ferries, lights, the right to consideration of Section 53A of the Transfer of Ownership Act must be registered. To simplify this, we can say that an unregant agreement is not valid proof of the claim on the property. Although the signing of the sale agreement does not mean that the sale has been completed, it is a decisive step in that direction. For this reason, buyers must be fully aware of the terms and conditions set out in the agreement. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions.
Signing a purchase agreement becomes important given several factors. First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. 2. Payment and signature should be simultaneous. So if you send a cheque, do it posted if beofre the date of compliance with the cheque of the signed sales contract reach you. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer.