The deed of sale is executed when all participants, such as the seller, buyer and witnesses, sign or make thumb marks on the document that confirms the same thing after the preparation of the deed of sale. It is an agreement that mentions the price agreed between the buyer and the seller for the property and the information provided by the buyer and seller. The judges added: “In any event, subsequent transmission is still subject to the rights already created. Therefore, it is not possible to say that a subsequent transfer is prohibited only because a sales agreement is registered and cannot be registered without receiving a decree to cancel such an agreement. 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 the absolute ownership of the property. Registering a sales contract is a smart step because it is also supported by various laws, such as the Indian Contract Act, the Specific Relief Act and various housing laws, which are enforced by many states. The Uttar Pradesh Apartment Act 2010 also stipulates that all sales contracts are necessarily registered in UP. 1) On the basis of the sales contract, the buyer can apply for a credit for the purchase of the property What the sales contract creates is a right of the buyer to acquire the property in question in accordance with certain conditions. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. A division bank of C.V.
Karthikeyan and N. Sathish Kumar found that the law does not allow registrars to respond to court orders for nullity of sales contracts before registering deeds of sale, deeds of donation, transaction deeds or other transfer of ownership documents executed by the owner. In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS. In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b). An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required. A purchase agreement is an agreement to sell a property in the future.
This agreement sets out the conditions under which the property in question is transferred. The Transfer of Ownership Act of 1882, which governs matters relating to the purchase and transfer of real estate, defines the sale contract or agreement for sale as follows: the subordination provided for in Section 49 is an exception to the above rule, providing that a non-registered document relating to the property must otherwise be registered either by the registration law or by the TPA. , can be obtained as proof of a contract in a lawsuit for a specified benefit or as proof of a guarantee transaction. The Supreme Court in KB Saha-Sons (P) Ltd/Development Consultant Ltd [(2008) 8 CSC 564] found that a mandatory document, if not registered, can only be considered in a court action for a given benefit as evidence of a contract performed between two parties and that this unregord document cannot be considered as proof of the content of the contract.