Sale Deed: Benefits, Documents& Registration Process
What Is a Sale Deed?
- A sale deed is an essential document. It is the main document of ownership of a property. This evidence is a legal document that proves the transfer of property from the seller to the buyer.
- This deed is signed and registered by both the buyer and the owner of the land. This document is drawn up by the draftsman under the Exclusion Clause to acquire the right to purchase property as per the value determined by stamp duty.
Elements Of Sale Deed
Name and Address
- The sale deed must contain the buyer’s and seller’s name, age, address, and telephone number.
Property Description
This deed should contain accurate details like description, address, full area, developments, boundaries, etc. of the property to be sold.
Sales Consideration
- The deed should state the amount that the buyer of the property will pay to the seller upon execution of the deed. If you have paid anything as an advance, you should also state that, along with the receipt of how you paid.
- You should also state whether you paid by check or online transfer. If you paid in installments, you should state the date.
Title Description
- The deed should mention the time and date when the title of the property will be transferred to the buyer. All the documents related to the property should be handed over to the buyer.
- After the registrations are completed, the seller should be given information about the property to be transferred to the buyer.