Agreement Of Sale And Sale Deed

A contract of sale is a promise in the future that the property will be transferred to the rightful owner, while the deed of sale is the actual transfer of ownership to the buyer. In the event of the seller`s failure to sell or hand over the property to the buyer, the buyer obtains a right to certain services in accordance with the provisions of the Specific Relief Act 1963. A similar right is available to the seller under the contract to obtain a specific service from the buyer. While a sales contract promises a transfer of ownership in the future, an instrument of sale is an effective transfer of ownership. In cases where you have purchased and taken possession of real estate under a contract of sale, title to the property remains in the hands of the developer, unless a certificate of sale has been executed a posteriori and registered under the Indian Registration Act. According to the Indian Registration Act of 1908, the sale of real estate worth more than a hundred rupees requires registration. Therefore, if a buyer buys a good under a purchase contract, but does not follow it with the execution of a deed of sale, he/she is not entitled to the property. The Sale of Goods Act 1930 clarified the difference between the sale and the contract of sale. It states that the contract for the sale of goods is a contract in which a seller transfers ownership of goods to the buyer at a price or agrees to transfer them. Such a contract may be absolute or conditional.

In addition to the limited right granted to buyers under section 53A, any sale that does not comply with the provisions of paragraphs 54 and 55 of the „Transfer of Ownership Act“ does not transfer title and does not transfer shares in the property to the buyer. .