What Is a Sale Deed?
Also, known as purchase deed, a sale deed is considered to the most important legal document at the time of buying or selling property in India. A sale deed allows you to register the property and also proceed further with mutation of the property. It is drawn upon by a legal draftsmen on a non-judicial stamp paper according to the value mentioned in the stamp duty act.
When you sign the sale deed, there must be at least two witnesses who could justify that proper sale deed has been signed between the buyer and seller. Remember your transaction will not be considered as legally valid if you buy Ghaziabad property with signing a sale deed.
Details Required In Sale Deed
There are certain details that must be present in a sale deed, in order to be legalized. Some of the major details include -
1. Type of deed: It might necessarily be not a case of selling properties. The seller might want to lease or mortgage their property. So, it should be specifically mentioned in the agreement, if it is a deed of mortgage or deed of sale.
2. Property description: There should be a complete description of the property in the sale deed. Everything should be included in the sale deed agreement, for example, location of the property, construction area, plot area, number of balconies, and number of rooms.
3. Parties involved in the agreement: Including the details of the parties involved in the agreement is also very important, for example, residential addresses, names and ages of both the parties.
How To Execute The Sale Deed?
To execute the sale deed, both the parties and the witnesses must be present at the local sub-registrar's office to sign the property deed. Don’t forget to carry all the essential documents. The process of registration begins after signing the sale deed. Also, one can easily find the certified copy of the registered property at the sub-registrar's office. In case you wish to transfer the property ownership to your son/ daughter or any loved one, you will have to use a quit claim deed for ownership transfer.
If you are planning to purchase flats in Nh 24 Ghaziabad or at any other location, do keep an eye on the sale deed agreement.
When you sign the sale deed, there must be at least two witnesses who could justify that proper sale deed has been signed between the buyer and seller. Remember your transaction will not be considered as legally valid if you buy Ghaziabad property with signing a sale deed.
Details Required In Sale Deed
There are certain details that must be present in a sale deed, in order to be legalized. Some of the major details include -
1. Type of deed: It might necessarily be not a case of selling properties. The seller might want to lease or mortgage their property. So, it should be specifically mentioned in the agreement, if it is a deed of mortgage or deed of sale.
2. Property description: There should be a complete description of the property in the sale deed. Everything should be included in the sale deed agreement, for example, location of the property, construction area, plot area, number of balconies, and number of rooms.
3. Parties involved in the agreement: Including the details of the parties involved in the agreement is also very important, for example, residential addresses, names and ages of both the parties.
How To Execute The Sale Deed?
To execute the sale deed, both the parties and the witnesses must be present at the local sub-registrar's office to sign the property deed. Don’t forget to carry all the essential documents. The process of registration begins after signing the sale deed. Also, one can easily find the certified copy of the registered property at the sub-registrar's office. In case you wish to transfer the property ownership to your son/ daughter or any loved one, you will have to use a quit claim deed for ownership transfer.
If you are planning to purchase flats in Nh 24 Ghaziabad or at any other location, do keep an eye on the sale deed agreement.
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