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. 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. Under the Transfer of Ownership Act, a sales contract, with or without property, is not transportation. Section 54 of the Transfer of Ownership Act provides that the sale of a property can only be done by a registered instrument and that a sale agreement does not create interest or fees for its property. On 31 October 2020, a 40-year-old man was arrested by Noida police for deceiving a bank of 2 Crores by forging debt and using loans. On the same day, the judge of the main meetings of Madurai, G Ilangovan, granted two sub-registries arrested by the Sanddigul Criminal Police Office, an early bail, on charges of recording documents without prior verification. According to the police, they registered the deed of sale without checking the certificate of charge, the original documents, the parental documents, the death certificate, etc.c. The seller must pay all expenses, including basic rent, taxes, expenses, expenses, charges, charges and exits until the date of handing over of the property to the owners and the transfer of the building is completed. 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. Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. B. The seller must keep a separate account for the amounts the seller receives from the seller of the apartments in the form of advance or deposit received because of the legal fees and the execution of other documents to be completed, and uses the amounts only for the purposes for which they were received and after the transfer of that property. balances are transferred from sellers to home buyers. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963.