Two common examples of real estate held under a contract are pensions and stock option contracts. 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. The Property Transfer of Property Act of 1882, which governs matters relating to the purchase and transfer of ownership, defines the sale contract or a sales contract as sub: Under the Indian Registration Act of 1908, any interest transfer agreement on property worth more than one hundred rupees must be registered. 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. If your goal is to transfer all or part of the title from one or more parties to another, without requiring contracts, invoices, mortgage distributions, title insurance, etc., we can do so with a guarantee. This may be a transfer between former spouses during/after the divorce, a gift of ownership of one to another or a transaction in which the parties are familiar, not requiring underwriting, mortgage payment, title insurance, etc., and only need legal documents to prove the transfer, choosing to deal with all financial considerations between them. 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. In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale.
In the absence of a deed of sale duly stamped and registered, no right, property or interest for a property, the buyer of the property. 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. If you agree with another party to transfer ownership of a property or other object, you are in the right place.