Agreement For Sale Of Land

A contract of sale is a contract for the sale of real estate in the future. This agreement defines the conditions under which the property is transferred. The Transfer of Property Act, 1882, which governs matters relating to the sale and transfer of immovable property, defines the contract of sale or a contract of sale as follows: In accordance with the Indian Registration Act, 1908, any agreement to transfer shares in property of more than one hundred rupees is required for registration. Therefore, if you have purchased real estate as part of a purchase agreement without a correct deed of sale following, you will not get any right or interest in the property that would be transferred as part of the purchase agreement. All parties concerned should also ensure that this document can be invoked as legal evidence before the courts of the law and that all those who have agreed to comply with the conditions are legally bound by it. 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 absolute ownership of the property. The Indian Supreme Court in 2012 ruled in the case of Suraj Lamp & Industries (P) Ltd (2) v Den State of Haryana, while it deals with the validity of proxy sales of real estate, as follows: A sale agreement is an agreement to sell real estate in the future. . . .