Sale Deed NRI
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A Sale Deed acts as the legal document for evidencing sale and transfer of ownership of property in favor of the buyer. The Sale D ...
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Contents of Sale Deed
Parties Of The Sale Deed
The sale deed outlines the details of the parties involved. It bears the name, age and addresses of the parties (buyer and seller) involved in the transaction.
Details of the property
The details of the property are written in the deed. the details include plot area, identification number, details of construction, the exact location and surroundings of the property. The schedule of details is attached to the deed.
Consideration
The amount of consideration is stated clearly in the deed. the consideration amount is to be paid by the buyer to the seller during the execution of the deed.
Mode of payment
The deed outlines the terms of payment. The parties should decide how and when the payments shall be done.
Encumbrances
An encumbrance is a claim made against a property by someone other than the current titleholder. The encumbrance clause states that, there are no additional liens on the property.
Indemnity clause
An indemnity clause is a contractual transfer of risk between two parties. Sale deed contains indemnification clause as a mechanism to allocate risk between the parties. It contractually obligates one party to compensate another party for losses or damages.
Benefits of Sale Deed
A sale deed provides legal recognition to the transaction between the parties.
A sale deed is admissible in the court. In case of a legal dispute the deed can be used as evidence.
A sale deed defines ownership rights and safeguards the rights and interest of the parties.
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60 Minutes of Talk time with the Lawyer for discussing requirements and changes in the draft
First Draft within 3 Days
First draft of the Document will be delivered within a maximum of 3 working days
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2 Iterations per Document allowed to incorporate your suggestions/changes
Frequently asked Questions
What is the difference between agreement to sale and sale deed?
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The agreement of sale shows the willingness of the parties to buy/sell the property in future. A sale deed signifies an immediate transfer of the property titles.
are unregistered sale deeds valid?
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Sale Deeds are invalid if not registered. It is necessary to register a sale deed.
I have a sale deed; how can I get it reviewed by a Lawyer?
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ezyLegal can help you get your sale deed reviewed and provide you with the right legal guidance. You can upload your document and schedule your Consultation with an ezyLegal Lawyer.
What is the process of getting the Agreement drafted from ezyLegal?
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ezyLegal offers Standard and Customized Document drafts. If you chose the customized Document option, your call will be scheduled with a Lawyer to whom you can explain your specific requirements. The first draft will be delivered within 2 working days and then you would be allowed 2 iterations to make changes in the draft.
How will the Document be delivered to me?
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The Document when ready will be available on the ezyLegal website (www.ezylegal.in) in your secured Account. You will be notified on email and WhatsApp whenever a new version of the Document is uploaded. You can Log-in and View or Download the document. Copy of the documents delivered by ezyLegal will always be available in your ezyLegal account forever.
What is a Sale Deed Certificate?
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A registered sale deed enables the transfer of property from one party to another. Via a property sale deed, ownership of a property can be transferred in exchange for consideration. A sale deed certificate, similar to the original sale deed, is the certificate that acts as a proof that the sale happened.
What are the modes of transfer of immovable property?
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Modes of transfer of ownership of property areas follows:
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- Mortgage
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- Sale deed of land/immovable property
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- Lease
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- Gifting property
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- Exchange
What is conveyance in property law?
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A conveyance deed is a legal document that is used to transfer the title of property from one person to another in the form of a gift, exchange, lease, mortgage, etc. Gift deeds, mortgage deeds, lease deeds and absolute sale deeds are all types of conveyances.
What are the important steps to be followed in registering and drafting sale deeds?
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The sale deed procedure is as follows:
- A legal expert or an advocate drafts the Sale Deed.
- The person drafting it can also draft the sale deed online.
- The buyer pays the stamp duty according to the property value.
- An appointment is made at the Sub-Registrar’s Office for registration.
- Both parties, along with 2 witnesses, arrive at the appointed date to the Sub-Registrar’s Office.
- Registration fees are paid.
- Registration is complete.
What is the difference between transfer of property through a sale deed and will transfer of property?
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Unlike a sale deed, by which even a gifted property can be sold, a transfer of property through will allows the transfer of property only after the death of the person executing the Will. A sale deed enables a buyer to become the owner of a property during the lifetime of the seller.
Can a jointly-owned property have a sale deed without partition?
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If you sell your undivided share of a jointly-owned property, the prospective buyer cannot take possession of any specific part of the land unless the same is partitioned. Nothing stops you from selling your share without a draft sale deed of immovable property but the buyer will have to file a suit for partition to get the possession.
What is the main difference between transferable and non transferable property?
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Properties whose title cannot be transferred from one person to another are called non transferable properties. The general rule that governs the property transfer process via property sale deed draft is that property of any kind can be transferred from one person to another. If the value of a property increases upon being gifted, it can be calculated as the capital gains on gifted property.
What is a deed of sale?
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A sale deed is a contract between two parties through which ownership is transferred from one party to another in exchange for consideration.
Is there any specific language that my sale deed should be in?
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Sale deeds are usually either in the regional language of the place they are drafted in, or in Hindi or English. A sale deed in Hindi can be used for the same purposes as a sale deed in any other language, such as a sale deed in Marathi.
Can I initiate transfer of flat after death to nominee through a sale deed?
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It is not possible to do so through a sale deed of flat. For the purpose of transferring property after death, consider assigning the property to a legatee through a will.
Can a sale deed be used for property transfer from father to son?
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A sale deed can be used for this purpose, as long as the transfer of property is in exchange for consideration. If there is no consideration, the property transfer from father to son must be performed through a gift deed.
Is it safe to draft a sale deed online?
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As long as the source that you are drafting the sale deed online through is safe and reliable, the drafting a sale deed online is not an issue at all. ezyLegal’s team of verified lawyers can help you draft a sale deed online without any issues regarding safety or privacy.
What is the process for selling property without original sale deed?
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The sale of property without the original sale deed is a complicated process. If you have lost the original sale deed due to someone else’s criminal actions, file a police complaint regarding the same. You will also have to write an undertaking on stamp paper. The Sub-Registrar’s Office is empowered to issue a duplicate of the original sale deed that can be treated as the original sale deed. After this, you can sell your property.
Is the sale of deed and title deed the same?
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Sale of deed is a document but title deed is a concept. As soon as a property sale deed is registered, it becomes a legal proof that the title of the property has been transferred in the name of the buyer. It is in this capacity that the sale deed becomes a title deed. That way, a sales deed is also a title deed.
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Sale Deed NRI
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