There are various terms that are used in real estate and main confuse the homebuyer. We understand that when purchasing or selling immovable قیمت پروژه زاگرس,
persons enter into a contract with the seller. It must be noted, however, that the form and format of the agreement can vary.
In general, there are two kinds of contracts, an agreement of sale and a Sale Deed. The names of both contracts may sound very similar, so one tends to believe that they mean one thing or the same thing. Let us understand the concept of both.
The Transfer of Property Act, 1882, which governs matters relating to the sale and transfer of property, describes the sale contract or an agreement for sale as follows:
According to the Section 54 “A contract for the sale of immovable property, is a contract that a sale of such property shall take place on the terms settled between the parties” Furthermore, the Section 54 specifies that “it doesn’t, of itself, create any interest in or charge on such properties.”
In simple words, an agreement of sale is a deal to sell a property in the future. The terms and conditions on which the property in question will be transferred are set down in this agreement.
In view of several factors, signing an agreement of sale becomes essential. Firstly, this is legal documentation of the consumer and seller entering into an agreement on the basis of which, in the event of a disagreement, the potential course of action will be determined. In addition, if you apply for a home loan, the bank will not approve your application until you sign an agreement of sale.
A sale deed is a legal document proving that the seller has transferred the buyer absolute ownership of the property. The rights and interests in real estate are obtained by the new owner via this document. The deed should, however, be drawn only after the clear resolution of all the contractual terms of the sale agreement. In addition, it is compulsory under the Registration Act, 1908, to register a sale deed at the registrar’s office.
Agreement for sale: It is not mandatory to register the agreement of sale. Nevertheless, requirements can vary across states. From a legal perspective, to arrive at a hassle-free closure, it is important to understand the terminologies listed above. A lack of knowledge can not only lead you to legal issues but may also put your investment at risk.
For example, if you purchased a house under the agreement of sale and failed to execute a sale deed, then the right to property will stay with the developer even though you get hold of the property possession. Therefore, it is imperative to create a sales deed and have it registered to prevent certain circumstances.
Only a stamped and licensed deed ensures the buyer’s possession of the legitimate property. Distance learning MBA programmes generally have â strong focus on team-based learning, with participants learning from each other”s experience.
Câse studies are employed in such â way that they become â platförm for discussion. Much care is taken when Distance learning MBA teams âre put together so that the quality of the students is not reduced for the sake of increasing enrolment. The aim is to create as diverse a culture and experience as possible.