The law desk
DIVESH SHARMA
11 Years Exp
Sale deed (Show More)
Jaipur , Arjun Lal Sethi Nagar
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What is a Sale Deed?
Sale deed is a legal document that contains details of transfer of property ownership from a seller to a buyer. This is one of the most valuable legal documents while purchasing or selling a property. This document needs to be registered mandatorily and is governed by the Registration Act.
Importance of Sale Deed
Sale deed is an important document for both the buyer and the seller. Through the sale deed, the seller transfers the rights of ownership to the buyer. This enables the buyer to acquire sole ownership of the property. This document provides an ownership proof of the property to the buyer, thus enabling the buyer to carry out further sale
The sale deed needs to be signed between the seller and the buyer, for purchase or sale of a property, to be legally completed. A property transaction cannot be completed without getting the sale deed signed by both the seller and the buyer. Signing a sale deed implies that both the seller and the buyer accept the terms and conditions defined in the agreement.
Sale Deed vs. Title Deed
A sale deed is a legal document that transfers the ownership of the property from the seller to the buyer, during a sale. When a property is sold, the sale deed confers title to the buyer.
A title deed is a legal document that can also be used to transfer the ownership of a property from one person to another in instances such as a gift, exchange, mortgage, etc. A title deed is useful when a person does not want to sell a property, but may want to add another person to the title. A title deed generally includes a description of the property that is being sold and the name of the person who legally owns the property. It can also have names of multiple owners.
How to execute a Sale Deed?
• Before executing the sale deed, a buyer should verify that the property is free from any encumbrance. This information can be verified from the registrar’s office.
• The seller should settle any existing loans and clear dues such as property tax, water tax, maintenance charges, etc.
• The seller should also obtain if any clearance or approval is required to sell the property.
• The buyer bears the stamp duty charges for the sale deed.
• The sale deed should be registered at the sub-registrar’s office in the presence of the buyer, seller and a minimum of two witnesses.
• All the pages of the deed should be signed by both the parties
• If the buyer is unable to be present due to unavoidable reasons, a person nominated by him/her, empowered with power of attorney can execute the deed.
Types of Fraud in Sale Deed
Real estate frauds are on the rise and fraudsters target both the buyer and the seller. It is important for you to be vigilant when planning to buy or sell a property. Some of the common types of frauds during the sale deed process are:
• Assuming the role of the property owner and trying to sell the property without the knowledge and consent of the original property owner.
• Pretending to be the power of attorney for either the buyer or the seller and carrying out unauthorized transactions.
• Providing incomplete or non-existent contact details while drafting or signing the sale deed. Sometimes the fraudster may give only a mobile number or an email address and may not give the physical address. It is important to check the validity of contact details.
• Changing the address during the course of the transaction without a proper reason.
• Trying to sell a property when there is a mortgage or lease on it.
• The buyer and seller should check that the title flows in the parent documents are correct and does not miss any previous buyer or seller. This is a common type of fraud.
Understanding the niceties of the sale deed, differences between the different types of deeds and agreements, and frauds will help you to plan a smooth transaction and to mitigate any fraudulent activities.
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Name : DIVESH SHARMA
Law Firm Name : The law desk
Country : India
City : Jaipur
State : RAJASTHAN
Practicing Since: 2014
About Your Firm : THE LAW DESK is a law firm growing in the Northern – West part of India, which delivers its best of services in matter of trust, efficiency, and satisfaction, to its clients of various sectors. We believe that we grow with the growing satisfaction of our clients in the work they entrust us. This leads us to make further developments and explorations in different avenues of law. We believe in professionalism and with this zeal we follow the ethics of profession and deliver best form ours to the clients. To be the Preferred Law Firm for our clients and take that relationship forward by making ourselves deserving enough to be their advisors and not just a law firm for their various deals. The members of the Firm are qualified from well established Universities and have extensive and rich legal experience and wide national exposure in their respective practice areas. The experience of associates and depth of their expertise combined with an unlimited desire, enthusiasm and energy to serve, has enabled us to effectively and efficiently resolve the clients’ problems and to suggest practical solutions for their complex legal issues. The Firm’s prime concern is “Client Satisfaction” and it is the backbone of its work culture and the Firm takes great pride in consistently adopting the highest professional standards for clients’ satisfaction. We believe that our path to success is more likely to be found when clients have an access to quality guidance along the way in their matters. Considering crucial needs of the clients, as a sense of responsibility we take personal interest in the all-dimensional success of the clients’ concerns. Our commitment to clients for communicative, responsive, value-added, dedicated and focused attitude in their matters along with cost consciousness and commercially pragmatic in our advice and assistance makes us a different and unique law firm in North Western part of India. To maintain this excellence of service to our clients, the Firm strives to recruit, train and retain lawyers and staff of the highest caliber and professionalism. Due to its good working relations with a number of lawyers and law firms in other jurisdictions ensures ready access to formal legal advice in other jurisdictions whenever needed. The Firm is committed to provide a wide range of legal services, both inbound and outbound, covering the requirements of corporate and individual clients in a timely and a cost-effective manner. We understand the value of client’s trust and are keen to respond as per their expectations. We believe in the ideology that a healthy mind resides in a healthy body and only healthy body can delivers good result but we also know that Health is not valued till sickness comes. In order to stay fit and healthy we keep a strict watch on our working habits and follow step counts on daily basis as a part of our working style. We believe that work can only be efficient if our firm is efficient and healthy.
| Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
|---|---|---|
| Prateek Kasliwal | (R/1570/2003) | Rajasthan |
| Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
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