Stamp Paper For Land Agreement

What the sales contract creates is a right for the buyer to buy the property in question under certain conditions. Likewise, the seller obtains the right to obtain the consideration of the buyer if his part of the general conditions of sale is respected. `Any contract of sale (agreement of sale) which is not a registered deed of assignment (deed of sale) would not satisfy the requirements of sections 54 and 55 of the Transfer of Ownership Act and would not confer title or interest in immovable property (with the exception of the limited right granted under section 53A of the Transfer of Ownership Act).` Seeing the unregistered purchase agreement can be considered as proof of the transaction and the unregistered sales agreement, since it is a legal action for a given performance and could be admissible as evidence subject to Article 49 of the Registration Act. The unreg registered sales contract may form the basis for the legal recourse of a given service and may be invoked as proof of the agreement or partial performance of a contract. The agreement is valid in 100 Rs of stamp paper and even if it was not made on stamp paper, it is valid. In fact, even an oral sales agreement is legally enforceable. In accordance with the Indian Registration Act of 1908, any agreement relating to the transfer of shares in immovable property with a value of more than one hundred rupees must be registered. Therefore, if you have purchased real estate as part of a purchase agreement without a correct deed of sale following, you will not get any right or interest in the property that would be transferred as part of the purchase agreement. It is valid, but the value of the stamp paper must be appropriate according to the value of the diagram. You can pay for the undervalued stamp paper later if it is found that the aforementioned stamp document was undervalued This absolute rule is subject to the exception provided for in Article 53A of the Transfer of Ownership Act. ยง 53A provides that the buyer has acquired ownership of the property that is the subject of the transfer, while fully fulfilling his share of the obligation of the contract. the seller does not have the right to disturb the property thus granted to the buyer.

It should be noted that Article 53A offers the proposed buyer protection against the contemptuous and pours out the contemptuous of the buyer`s troublesome property, but it does not heal the buyer`s ownership of the property. Ownership of the property remains in the hands of the seller. Signing a sales contract becomes important given several factors. First, it is legal proof of the conclusion of an agreement between the buyer and the seller on the basis of which, in the event of a dispute, the future action will be decided. Even if you apply for a home loan, the bank would not accept your application until you sign a sales contract. A contract of sale is a contract for the sale of real estate in the future. This Agreement lays down the conditions under which the property in question is transferred. . . .