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. 21. This agreement is executed in a triple copy. The original copy is deposited by the buyer for registration and the seller will perform it before the sub-chancellor and the second and third copies are kept by the buyer or seller. The original copy of this agreement will be received by the buyer by the Registrar as soon as it is ready after registration. 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. “Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act).” 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. Invest my family and list the latest notification of additional cost request in his in the resale contract So, in cases where you purchased and took possession of a property under a sale agreement, the title of the property will 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. 11. Let Part 1 admit that no rights, title, interest or concern of any kind have been left in the aforementioned dwelling. 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 Indian Supreme Court in 2012, in the case of Suraj Lamp – Industries Ltd (2) v. State of Haryana, while considering the validity of the sale of real estate by proxy, held that 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. “Locked-in property can only be transferred by a transport permit (deed of sale), duly stamped and registered legally. We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation. 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.