Summary: This article analyzes how a sales agreement and a sales file may include the same aspects, but one is applicable in case of litigation and the other has its limits. In every process of selling and buying real estate, we begin to sell the transaction through an agreement that can also be called Memo for Sale. It is a document that includes the terms and conditions regulated and decided between the parties and is binding on the parties concerned as soon as the currency change has taken place. It always precedes the execution of a deed of sale and is registered in some states in India for z.B. Maharashtra. Therefore, it is a promise to carry out the entire transaction, as stated in the agreement to sell and has legal sanctity. Please note that the transfer of “property rights” is also due to the execution of other legally accepted documents, such as – Gift Deed, Relinquishment dedid, WILL, etc., The Sale of Goods Act, 1930, which clarifies the difference between the sale and the sale agreement. It stipulates that the sales contract is one in which a seller transfers or has agreed to transfer the property in Derob to the buyer for a price. Such a contract may be absolute or subject to conditions. In conclusion, homebuyers should bear in mind that only a registered deed of sale can facilitate the transfer of property ownership. Those who have acquired a property under a sale agreement are not entitled to the title to the property.
You should immediately ask the Seller to prepare the sales file and register it under the Indian Registration Act. “Any sales contract that is not a registered promotion (nature of sale) would not comply with the provisions of Sections 54 and 55 of the Transfer of Ownership Act and would not confer title. , nor the transfer of interest in real estate (with the exception of the limited right granted under Section 53A of the Transfer of Ownership Act). A deed of sale is usually a document that transfers the rights of one party with property of another property. It is designed in the first place as the continuation of the sales agreement. All the conditions mentioned in the sales agreement are met and met in the sales agreement. There is a possibility of a violation of the sale that results in legal action on price and damages, while any violation of the terms of a sales contract results only from the action for damages.