Sale Deed is a document which is registered for sale of property in case of freehold properties. However, it may be registered in certain leasehold properties also where there is such provision. It grants clear title & complete ownership to the buyer/purchaser. It is compulsorily registered when transaction is for consideration between two persons.
The steps involved in the preparation and registration of a Sale Deed is as follows:
- The deed is drafted/prepared by a legal expert/advocate.
- Stamp Paper is purchased as per the circle rates.
- Date is fixed for the registration in the Sub Registrar office.
- The Government registration fee has to be paid.
- Both the buyer and seller and 2 witnesses visit the sub registrar office on the fixed day for the registration of Deed.
- The registered deed can be collected after a week.
Sale Deed is the most common document used for transferring the ownership of a property from one person to another. It is generally made after the execution of the agreement to sell. Sale deed is the main document which contains the details as to how the seller had got the title to the property, for what consideration the seller is selling the property to the buyer and assurance to the purchaser that the property is free from all encumbrances and liabilities, etc. A sale deed acts as an essential document for the further sale of the property by the purchaser as it establishes the proof of ownership of the property. The registration of a deed is governed by “The Registration Act, 1908” and is the most important document of title for the buyer/transferee and the seller/ transferor. It is compulsory to get a sale deed registered in the sub registrar office. An unregistered sale deed has no value in the eyes of law and does not pass any title to the buyer. A registered deed can be used for transferring freehold flats, plots, builder floors, bungalows, apartments, DDA flats, society flats, commercial office, shops etc.
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