Sale Deeds
A sale deed is a legally binding document that transfers ownership of property from the seller to the buyer. It includes detailed terms of sale, payment, and possession. A properly executed sale deed is vital for securing property rights and preventing future disputes.
Types Of Sale Deeds
Project finance can be categorized based on ownership, risk distribution, and funding model.
Absolute Sale Deed
Transfers full ownership without any conditions or limitations.
Conditional Sale Deed
Ownership transfer is subject to fulfillment of specific terms or conditions.
Leasehold Sale Deed
Applicable when the property is sold on leasehold land with time-bound rights.
Mortgage Sale Deed
Used when property ownership is transferred under a loan or mortgage agreement.
Gift or Relinquishment Deed
Documents ownership transfer without monetary exchange, usually among family members.
Part Sale Deed
Partial ownership of the property is transferred, often used when selling a share of a larger property.
Why Sale Deeds Is Important?
Ownership Legitimacy
Serves as final proof of property ownership and ensures title authenticity.
Legal Drafting Assistance
Professionally drafted deeds prevent legal loopholes and disputes.
Stamp Duty Compliance
Ensures correct stamp duty calculation and registration.
Verification Support
Checks the seller’s ownership and property encumbrance details before registration.
FAQs
What is a sale deed?
It is a legal document transferring property ownership from seller to buyer.
Is sale deed registration mandatory?
Yes, registration under property law is essential for legal validity.
Who prepares the sale deed?
It is usually drafted by a legal professional or property consultant.
What is the difference between sale deed and agreement to sell?
The agreement to sell precedes the transaction, while the sale deed finalizes ownership transfer.
Can a sale deed be canceled?
Yes, but only through mutual consent or court order in case of fraud or misrepresentation.