„Fixed assets may only be transferred by means of a deed of transfer (deed of sale) duly stamped and registered in accordance with the law. We therefore reiterate that fixed assets can only be transferred and transferred legally and legally by means of a registered deed of transfer. As a rule, the buyer`s agent writes the sales contract. However, if they are not legally licensed to practice the law, real estate agents generally cannot create their own legal contracts. Instead, companies often use standardized form contracts that allow agents to fill in the gaps with the peculiarities of the sale. A contract of sale is a contract for the sale of real estate in the future. This agreement defines the conditions under which the property is transferred. The Transfer of Property Act, 1882, which governs matters relating to the sale and assignment of immovable property, defines a contract of sale or a contract of sale as follows: „A contract for the sale of immovable property is a contract which provides for the sale of such property on the terms agreed between the parties“ – section 54. „It does not in itself create interest or calculate this type of property as it should be.“ After the deed has been filed with the county recorder, the sale is complete. Remember here that both parties must comply with the conditions set out in the sales contract. Any party that fails to comply with any of the conditions set out in the agreement may be brought before the courts if the other party so wishes. All parties concerned should also ensure that this document can be invoked as legal evidence before the courts of the law and that all those who have agreed to comply with the conditions are legally bound by it.
A real estate purchase agreement does not really transfer ownership of a house, building or land. Instead, it provides a framework for each party`s rights and obligations before the legal transfer of ownership can take place. The contract of sale may, or may not, lead to an actual sale of the property in question. Some stamp duty laws, such as the Maharashtra Stamp Act, provide for an agreement to sell real estate as an appropriate deed of transfer and are therefore subject to the same stamp duty as that applicable to the deed of transfer or deed of sale of real estate. Under these provisions, which require payment of stamp duty on a contract of sale, persons wrongly perceive a contract of sale as a deed of sale in due form. Serious money deposit: A serious deposit is a deposit that shows the good faith and obligation of the buyer to continue the purchase of the property. In return for the buyer`s serious money deposit, the seller withdraws the property from the market. At the end of the purchase, the deposit of serious money is charged to the purchase price. When the contract is terminated in accordance with the terms of the contract, the serious deposit is usually returned to the buyer….