You need to think about why we are focusing on these two concepts. Well, the reason is that most people think these two terms are the same, which is not true. These two terms are poles far apart and it is important to know the difference between the purchase agreement (also known as the « Sale Agreement ») and the Deed Sale. If we say the fundamental difference between these two, you can understand by the fact that the purchase agreement is the promise of ownership transfer, while Sale Deed is the actual transfer of ownership. The above definition shows that a purchase agreement contains a promise to transfer the property in question in the future under certain conditions. This agreement itself therefore does not create any rights or interests on the property for the proposed buyer. The Property Sale Act of 1930 clarifies the difference between the sale and the sale agreement. It stipulates that the sales contract is one in which a seller transfers or has agreed to transfer the property in Derob to the buyer for a price. Such a contract may be absolute or subject to conditions. Under the Indian Registration Act of 1908, for the purchase of real estate, you must enter into a written agreement for a property worth more than a hundred rupees, which must be registered without exception.
However, the above rule is the subject of a special exception in Section 53A of the Transfer of Ownership Act. If the buyer has entered into possession of a particular transferred property while complying with its part of the undertaking, the seller has no right to disturb the buyer. In addition, Section 53A also provides protection to any taker who excludes the taker from the peaceful « disruptive » possession of a taker. However, the right of ownership remains and is transferred to the seller. In any event, where a buyer has acquired a property determined by the performance of a sale contract and subsequently obtained the property, the title is still held by the owner, unless a sales record has been registered to be kept in accordance with the Indian Registration Act guidelines. In essence, it is clear that the title rights of a property acquired by an individual can only be successfully transferred by the realization of a single deed of sale. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. In every process of selling and buying real estate, we begin to sell the transaction through an agreement that can also be called Memo for Sale. It is a document that includes the terms and conditions regulated and decided between the parties and is binding on the parties concerned as soon as the currency change has taken place.
It always precedes the execution of a deed of sale and is registered in some states in India for z.B. Maharashtra. Therefore, it is a promise to carry out the entire transaction, as stated in the agreement to sell and has legal sanctity. A real estate agent is developing a residential project. I bought a 400-metre lot and made a registered sales number with them. In the sales clause, they did not mention the appointment time and the compensation clause if the project is cancelled from there. I would like to know if I made a mistake, since these two clauses are not mentioned in the deed of sale. If I did that, what are the remedies in the future if something unexpected happens in the future? Through a purchase or purchase agreement does not give you any right or interest on the property you are going to buy. On the other hand, a sales statement (buyer) gives you all the rights and interests of the property.