What Points To Include In Sale & Purchase Deed

Purchasing your ideal house is the start of a long-term commitment. Between the time of signing the sale agreement and the property registration, a lot can happen. And since buying a property has become a dynamic process as a result of the frequent buying and selling, it is even more critical for a buyer to take extra precautions during the sale and purchase deed.

Points to include in sale and purchase deed of a property

A sale deed is a legal document in which the seller transfers his rights and interests in a property to the buyer, who then becomes the sole owner of the property. Here are some must-have points which you should include in your sale and property deed

The Parties to the Sale Deed

Names, residences, ages, contact information, jobs, and the date the deed was executed are all buyer and seller details.

The Property’s Description

Dimensions of the property being transferred, land registration number, and exact location

The clause relating to the mode of payment

The payment mode shall be specified in the sale document, together with the amount of payment, as negotiated by the two parties.

Payment in advance and installments

The sum received as an advance or part payment will be noted in the sale and purchase deed.

Transfer of Title

It conveys the seller’s desire to transfer ownership to the buyer.

Possession of the property and delivery of the deed

The precise date of the sale/ purchase should be mentioned with the date of delievery of possession.

The Encumbrance Clause and the Indemnity Clause

Taxes, charges, or overdue bills of sale or leasehold are all. If any such charges remain, the buyer who pays them off has the right to demand that the seller reimburse him.

Liability in the event of a breach

If one of the sale deed’s parties is at fault, that party is liable for compensating the party for the loss so that the sale deed’s execution is not hampered.

Registration and Witnesses

The property must be registered in the name of the new owner. At least two witnesses must attest to the sale deed once the deed is drafted, along with the parties’ signatures indicating their approval.

The right to peaceful use of property

The seller assures the party in possession of the property that the former may utilize the land peacefully without interference from the latter parties.

Warranty

The seller guarantees or ensures the buyer that he is the lawful owner of the property and has the authority to sell it to the buyer under this condition.

Right to cancel the contract

One can insert a clause in a selling deed that allows them to revoke the transaction if specified circumstances arise.

Dispute Resolution 

You can include a dispute resolution clause in their selling agreement to avoid delay in courts. It lays forth a procedure that the parties have agreed to follow in the event of a disagreement.

We hope this helps you to frame your sale deed in the most detailed manner.