Sale Deed NRI

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.

Sale Deeds are invalid if not registered. It is necessary to register a sale deed.

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.

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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.

Modes of transfer of ownership of property areas follows:

• • Mortgage

• • Sale deed of land/immovable property

• • Lease

• • Gifting property

• • Exchange

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.

 

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.

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.

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.

 

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.

 

A sale deed is a contract between two parties through which ownership is transferred from one party to another in exchange for consideration.

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.

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.

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.

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.

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.

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.