Announcement

Collapse
No announcement yet.

Sale agreement, conveyance deed, sale deed

Collapse
X
Collapse

Sale agreement, conveyance deed, sale deed

Last updated: December 19 2012
2 | Posts
6516 | Views
  • Time
  • Show
Clear All
new posts

  • Sale agreement, conveyance deed, sale deed

    Hello Guys

    I want to know what documents are followed when buying from builder in Pune.
    There is some confusion in my mind. Lets say I am making a 1 shot payment to builder and no home loan taken.

    1) Agreement for Sale - I guess this is basic and needed
    2) Sale Deed - Is this done.If yes when ? In Bangalore I know this is done
    3) Construction Deed - Is this done..If yes when ? In Bangalore I know this is done
    4) Conveyance Deed - I believe this is done while transferring to society
    5) Possession and Occupation certificates - Are these 2 separate or one ? - When should this be taken

    6) ALso during registration, does AGREEMENT for Sale only suffices or anything else is needed.
    7) Any other ?

    Appreciate your help guys. Thanks
  • #2

    #2

    Re : Sale agreement, conveyance deed, sale deed

    sale agreement

    Agreement to sell:
    The sale and purchase of immovable property requires considerable time for completing of all process and compliance of obligations, as the stakes are high. Therefore both the parties have to come to an agreement regarding the consideration amount, method of payment and time periods to complete sale. Mutually Agreed terms are reduced to writing in the form of an agreement, which is termed as Agreement to Sell. The Agreement to Sell is governed by the provisions of the Indian Contract Act 1872 and Transfer of Property Act 1882.
    Section 54 of Transfer of Property
    Act enacts that sale of immoveable property can be made only by a
    registered instrument and an agreement of sale does not create any interest
    or charge on its subject matter.
    Sale Deed
    Refer this link
    http://makaaniq./sale-deed-what-should-you-know.html
    Conveyance deed is executed by the builder in transferring all rights of land to the registered society by executing an agreement which will be registered duly at registrar office. This is essential for all societies to get full ownership.
    Possession certificate is given by builder to individual flat owner to take possession of flat.
    occupation certificate is a municipal document which certifies fitness of building to be handed over to flat purchasers. It signifies compliance with all muncipal requirements while building the project. it is a vital document.
    Normally when you buy a flat you enter into an agreement to sell which is registered and keep making payments as per terms mutually entered into.
    Sale deed is entered into when one shot payment is being made.
    Please consult a legal expert to get full clarity.as only general answers to give basic idea can be given for general query.

    Comment

    • #3

      #3

      Re : Sale agreement, conveyance deed, sale deed

      Thanks vaibhav
      I am looking to buy a ready to move in without home loan.
      The builder guy was telling me that we will still have to do the SALE AGREEMENT and will register that. The sale deed has not been done for anyone and will be done at later point on Rs 100 stamp paper.
      Is this correct and usually done this way ?

      Originally posted by vaibav123 View Post
      Agreement to sell:
      The sale and purchase of immovable property requires considerable time for completing of all process and compliance of obligations, as the stakes are high. Therefore both the parties have to come to an agreement regarding the consideration amount, method of payment and time periods to complete sale. Mutually Agreed terms are reduced to writing in the form of an agreement, which is termed as Agreement to Sell. The Agreement to Sell is governed by the provisions of the Indian Contract Act 1872 and Transfer of Property Act 1882.
      Section 54 of Transfer of Property
      Act enacts that sale of immoveable property can be made only by a
      registered instrument and an agreement of sale does not create any interest
      or charge on its subject matter.
      Sale Deed
      Refer this link
      http://makaaniq./sale-deed-what-should-you-know.html
      Conveyance deed is executed by the builder in transferring all rights of land to the registered society by executing an agreement which will be registered duly at registrar office. This is essential for all societies to get full ownership.
      Possession certificate is given by builder to individual flat owner to take possession of flat.
      occupation certificate is a municipal document which certifies fitness of building to be handed over to flat purchasers. It signifies compliance with all muncipal requirements while building the project. it is a vital document.
      Normally when you buy a flat you enter into an agreement to sell which is registered and keep making payments as per terms mutually entered into.
      Sale deed is entered into when one shot payment is being made.
      Please consult a legal expert to get full clarity.as only general answers to give basic idea can be given for general query.

      Comment

      Have any questions or thoughts about this?
      Working...
      X