Agreement To Sell Does Not Create Any Right

These terms are well known to everyone, we are all aware of their use in the sales procedure. Since there can be no sale through the execution of a power of attorney, nor transfer through the execution of a contract of sale, power of attorney and will. A certificate of sale is usually issued as an extension of a sales agreement and an MPA. This is preferably the best way for the buyer to carefully inspect the sale property. But there are many hoaxes and misunderstandings about the validity or negative effect of these conditions. In accordance with the Indian Registration Act of 1908, any agreement relating to the transfer of shares in immovable property with a value of more than one hundred rupees must be registered. 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. (i) amend the Registration Act 1908 by Amending Act 48 of 2001 with effect from 24.9.2001, under which documents containing a contract of assignment for pecuniary interest (contracts of sale, etc.) relating to immovable property within the meaning of section 53A of the Act are registered; and 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. Finally, in the event of the appointment of a power of attorney, the power of attorney should only be issued to a trusted person and in exceptional circumstances, in accordance with the legislation in force. It should always be borne in mind that developers always tend to protect their own interests and hinder the seller`s interest, so sometimes the seller needs to be aware of his rights and seek the help of a lawyer for the execution of a sales document. A sales agreement is an instrument in which the seller promises to transfer the property to a buyer if there are certain conditions, but does not create the buyer`s ownership of the property. When we analyze the provision, we can understand that the document contained therein is a sales agreement.

It is also stated that the sales agreement as such falls within the category of Article 17(2) of the Law on registration as a non-mandatory document. The aim of the introduction of RERA was to protect the interests of buyers and to establish transparency in the sale/purchase of real estate. Due to the huge creation of dirty money in the real estate sector and many cases where developers have defrauded real estate buyers, the introduction of RERA was an essential step. The RERA has improved transparency and accountability in real estate and residential transactions.. . .

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