Registered Agreement Kya Hai

The sale contract may or may not lead to an effective sale of the property in question. Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport record, as well as a proper transport record, are subject to the same stamp duty as the one in force for the proper sale of a property. Under these provisions, which require the payment of stamp duty on a sales contract, a sale agreement is wrongly considered a good act of sale. “Locked-in property can only be transferred by a transport permit (deed of sale), duly stamped and registered legally. We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation.¬†As a general rule, the clerk reviews the entire document and verifies stamp duty and registration fee paid by e-Challan. It also verifies whether the PoA holder is properly authorized and has the necessary powers to sign and register the agreement on behalf of the owner. Once the Registrar or Sub-Registrar has passed with all the above things, the same contract is registered by a single registration number with the thumbprint and the OAR stamp, receipt of payment and index-2 of the premises granted, what the sales contract creates is a right for the buyer to purchase the property in question under certain conditions. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the construction-buyer agreement and not from the date of registration of the project under the Real Estate (Regulation and Development) Act 2016. The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. An agreement signed and scanned in front of the chancellery is a registered agreement.

This process takes place and ends with the sub-registrar`s office for a particular area. 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. 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. A notarized agreement is an agreement certified by a notary. The notary only verifies the identity of the licensors and licensees who sign the agreement and calls the agreement “Signed before me”. 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. A recorded document becomes a public document and can be accessed according to legal procedures.

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.