Uncategorized

Agreement For Sale Of Landed Property

This absolute rule is subject to the exception of Section 53A of the Transfer of Ownership Act. Section 53A provides that the seller has no right to disturb the purchaser`s possession if the purchaser has entered into possession of the property that is the subject of the transfer, while fully acquiring its portion of the contractual obligation. It should be noted that Section 53A provides the proposed purchaser with a shield against the seller and prevents the seller from disrupting the purchaser`s property, but it does not cured the buyer`s property. The property`s ownership remains in the hands of the seller. “Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act).” The Supreme Court of India in 2012 in the case of Suraj Lamp Industries (P) Ltd (2) of the State of Haryana, while the treatment of the validity of the sale of real estate by proxy, did as in: On October 31, 2020, a 40-year-old man was arrested by the Noida police on charge of duping a bank of Rs 2 crores cro , by falsifying debt securities and using credit. On the same day, the judge of the main meetings of Madurai, G Ilangovan, granted two sub-registries arrested by the Sanddigul Criminal Police Office, an early bail, on charges of recording documents without prior verification. According to the police, they registered the deed of sale without verifying the certificate of charge, as well as the original documents, parental documents, death certificates, etc. “A contract for the sale of real estate is a contract that must be sold under the conditions set by the parties,” section 54. Section 54 adds: “It does not in itself create interest or royalty for such a property.” 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 sales contract or a sales contract as sub: under the Law on the Transfer of Ownership, a contract of sale, with or without property, is not a transfer. Section 54 of the Transfer of Ownership Act provides that the sale of a property can only be done by a registered instrument and that a sale agreement does not create interest or fees for its property. Although the signing of the sale agreement does not mean that the sale has been completed, it is a decisive step in that direction. For this reason, buyers must be fully aware of the terms and conditions set out in the agreement.

Discussion

Comments are closed.

Teisha Rowland, PhD, is the author of this blog.

Categories

  • No categories