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Validity Of A Sale Agreement

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. A sale agreement protects the interests of both parties and clearly defines the conditions under which the seller intends to sell the property and the conditions under which the buyer intends to acquire it. This facilitates the smooth conclusion of the transaction without quarrels, confusion and misunderstandings. 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. There are several inclusions or clauses in the sales contract. It will describe the property, contains the contact information of the seller and buyer, the negotiated price will be mentioned and also how this payment will be paid. The payment period is taken into account. There will also be a provision for the payment of stamp duty and on behalf of the title. Finally, in the event of a mandate, power should be granted only to a person of trust and in exceptional cases in relation to the existing legislation. Always keep in mind that developers always tend to protect their own interests and hinder the seller`s interest, so that the seller should sometimes be informed of his rights and take the help of a lawyer when executing a deed of sale.

Finally, it should be noted that, in the above decision, Hon`ble Bench referred only to the legal situation, namely that sa/GPA/WILL transactions are not transfers or sales and that this transaction cannot be considered a sale or promotion concluded. But they can still be treated as an existing purchase agreement. There is nothing to prevent those affected from obtaining registered promotional titles to complete their title. In order for a sales contract to be considered a legally binding document, some important aspects must be present. 2) If, under the agreement, 4 months were given to make the payment and the buyer failed to pay the balance of Rs 19 Lakhs, you should have issued notice at the end of the 4-month period. 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. The property`s ownership remains in the hands of the seller.

For z.B agreed to sell wheat crops grown in his field to B. A and B agreed that B could reduce the crop and withdraw it if the price is paid.

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