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WHAT IS SALE DEED
A Sale Deed is a legal document that facilitates the actual transfer of ownership rights in a property from the seller (referred to as the vendor) to the buyer (referred to as the vendee). It is a final and conclusive agreement that confirms the transfer of title to the buyer. The transaction is completed once the sale deed is signed and registered with the relevant authorities, typically the sub-registrar of the district where the property is located.
The sale deed is also referred to as a “conveyance deed,” as it conveys the rights, interests, and ownership of the property. It must be noted that a sale deed is distinct from a sale agreement. While a sale agreement lays down the terms and conditions of the future sale, the sale deed finalizes the sale and formally transfers ownership.
IMPORTANCE OF SALE DEED
It establishes the buyer as the legal owner of the property and can be used to claim rights in case of disputes.
A registration sale deed clearly outlined property details, terms of the sale, and ownership transfer, preventing any confusion or fraud in the future.
Banks and financial institutions require a registered sale deed to approve loans and mortgage on the property
If you plan to sell the property in the future, the sale deed will be necessary to prove your ownership
It is needed for property tax assessments and to comply with legal requirements, such as filing income tax returns related to property transactions
DOCUMENTS REQUIRED FOR SALE DEED
To register a sale deed, the following documents are typically required:
HOW CAN LAWTECH HELP YOU IN SALE DEED
We can play a crucial role in ensuring that a sale deed is properly drafted, executed, and legally sound. Here are some ways we can assist you:
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