What is a Sale deed?

A sale deed is authentic proof of ownership of immovable property. A sale deed is drafted by a legal draughtsman and executed on non-judicial stamp paper. It is registered by paying the requisite stamp duty, and registration fees. The state government decides the charges levied for each sale deed. The charges are repay, and satisfy

Importance of Sales deed

       The sales deed provides a well-defined, comprehensive description of the property that is being bought, including the square area and the location.

       It is a legal document, enforceable by the law.

       The process of sale has no ambiguities as the sale deed mentions the money transactions clearly.

       It is registered and stamped and so cannot be taken for granted by anybody.

 Document requirements or a sales deed

•        The name of the deed needs to be ascertained first; Deed of Sale or Deed of Mortgage or Deed of Lease.

•        The name, age, and respective addresses of both the seller and buyer need to be kept ready.

•        The extract is needed for registration of any new property and also for transfer of ownership at a later stage.

•        A general power of attorney made by an established person on behalf of the owner of the property.

•        Description of the property sold with a copy of the building plan. Document showing the comprehensive description of the property that is under sale, including identification number, total plot area, construction details, and the location with its surrounding areas

•        A well-thought-out agreement for sale needs to be drafted with terms and conditions mutually arrived at by both parties.

•        Document showing that the property is free from litigation, encumbrance, and any charges or the Indemnity & encumbrance clause declaration by the seller.

Where To Submit an Application for A Sales Deed?

The sale deed application is submitted for registration at the sub-registrar’s office along with all the paperwork.

The Important Things To Take Care Of Before The Sales Deed

It is very important that a sale deed is drafted and executed with absolutely no scope for error as a house or other property calls for a huge investment from the buyer. There are a few precautions to be taken that an experienced hand can help with. A copy-pasted document calls for trouble later on. All payment details need to be clearly documented. A clear title regarding the property on sale is mandatory. An indemnity clause protects the buyer against hindrances from the seller at a later date. The delivery details need to be included. Attestation by two witnesses is essential.

Involve experts to make the sale deed execution a smooth process

Legalo services are adept at drafting the legal documents needed for a sale deed. With pre-drafted templates that can be easily customized, we make things a lot easier for the buyer and seller. We help with all aspects involved in buying and selling immovable property from property verification to drafting and executing the sale deed in a proper way.