The Deed of Sale Corporation is a crucial legal instrument in Indian corporate property transactions, used when a company needs to transfer ownership of real estate assets. This document type is specifically designed to meet the requirements of both corporate and property laws in India, ensuring compliance with the Companies Act 2013, Transfer of Property Act 1882, and relevant state laws. It includes corporate authorizations, board resolutions, property details, consideration amount, and necessary representations and warranties. The deed must be properly stamped and registered at the Sub-Registrar's office in the jurisdiction where the property is located. This document is particularly important as it serves as conclusive evidence of the transfer and helps maintain clear title records in corporate property transactions.
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1. Parties: Details of the seller corporation and buyer, including registration numbers, registered addresses, and authorized representatives
2. Background: Context of the sale, including brief history of ownership and reason for sale
3. Definitions: Definitions of key terms used in the deed
4. Details of Property: Comprehensive description of the property being sold, including boundaries and measurements
5. Title and Ownership: Seller's declarations regarding clear title and authority to sell
6. Consideration: Purchase price, payment terms, and acknowledgment of receipt
7. Transfer of Rights: Express terms of transfer of ownership and rights
8. Seller's Representations and Warranties: Warranties regarding title, encumbrances, litigation, statutory compliance
9. Possession: Terms of handing over physical possession
10. Registration and Expenses: Responsibilities for registration, stamp duty, and other expenses
11. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
12. Execution: Execution blocks for authorized signatories with corporate seals
1. Environmental Compliance: Required when property involves industrial or commercial premises with environmental implications
2. Municipal Approvals: Needed when property requires specific municipal clearances or has pending applications
3. Statutory Compliance: Required when property is subject to special regulations or requires specific permits
4. Encumbrances: Detailed section needed if property has any existing charges or encumbrances to be cleared
5. Third Party Rights: Required when there are existing tenants or other third-party interests
6. Foreign Exchange Compliance: Needed when transaction involves foreign parties or cross-border elements
1. Property Description Schedule: Detailed technical description of property including measurements, boundaries, and survey numbers
2. Title Documents Schedule: List of all title documents and chain of title
3. Encumbrance Certificate: Recent encumbrance certificate showing charges on property
4. Corporate Authorizations: Board resolutions, shareholder approvals authorizing the sale
5. Payment Schedule: If payment is in installments, detailed payment terms and conditions
6. Property Tax Records: History of property tax payments and pending dues
7. Existing Contracts: List of relevant contracts affecting the property (if any)
8. Compliance Certificates: Copies of relevant statutory and regulatory compliance certificates
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