It will be a binding document for both owners and buyers on all aspects related to the sale of a property, including the closure of the project, the terms of sale, the down payment and other provisions. The deed of sale is the most important legal document by which a seller transfers his right of ownership to the buyer, who then acquires the absolute ownership of the property. Section 49 of the Registration Act 1908 deals with the effect and validity of an unregured document to be recorded. It states that a sales contract is a legal document that constitutes the conditions under which the sale of the property is made by the seller to the buyer. It also contains details of the consideration for which the property is sold. The agreement sets out all the essential conditions and a timetable for future payments that the buyer must make to the property. It is the most important document because it facilitates the entire flow and process of selling and transferring ownership. In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale. In the absence of a deed of sale duly stamped and registered, no right, property or interest for a property, the buyer of the property. The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the owner-buyer agreement and not from the date of registration of the project under the Real Estate Act (regulation and development). , 2016.
The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. In great relief to home buyers, the state government after much delay is all ready to approve the standard sales contract in accordance with the provisions of the Real Estate (Regulation and Development) Act. 1. Now TannenInsubscribe the sales contract is the physical presence of both parties is necessary. So I`m not sure how he could do it.