However, section 8 of the aforementioned law deals with the goods that flow before the sale, but under the sale agreement, so that this section again highlights the goods that, through no fault of the seller or buyer, are damaged or corrupted. It is therefore also a sale agreement. 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. These conditions include the amount at which it will be sold and the date of future payment. The concept of the contingency contract, as defined in Section 31 of the Indian Contract Act 1872, can also be incorporated into this concept. Thus, a contract is to sell a contract, do something or not to do if certain event security to such a contract, occurs or does not occur. All conditions stored for understanding the sale must be carried out jointly by both parties and respected throughout the deal process until the date of the sale agreement. Therefore, a sale agreement is a basic document on which the deed of sale is written. In other words, the sale agreement can be characterized as confirmation of the future event, which may take place depending on the compliance with the conditions set out in the present.
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. In the sale agreement, the parties agree to exchange the goods for a price that depends on compliance with certain conditions at a later date. The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the owner-buyer agreement and not from the date of registration of the project under the Real Estate Act (regulation and development). , 2016. The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. Remember here that both parties must respect the terms of the sale agreement. Any party that does not comply with any of the terms of the agreement could be brought to justice if the other party so wishes.
All parties involved should also ensure that this document can be used as legal evidence before the court of law and that all those who have agreed to comply with the conditions are required to do so. 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. The essential sale agreement is as follows: In cases where you have acquired and taken possession of a property under a sale agreement, the title to the property will still remain with the developer, unless a sales record has been 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.