The Deed of Sale for House and Lot is a crucial legal instrument in Indian property transactions, essential for documenting and effecting the transfer of immovable property ownership. This document is mandated by the Transfer of Property Act, 1882, and must be registered under the Registration Act, 1908. It becomes necessary whenever there is a sale of residential property, whether it's an independent house, apartment, or plot with construction. The deed must contain specific details about the property, parties involved, consideration amount, and various declarations and warranties as required by Indian law. It serves multiple purposes: establishing clear title, protecting both buyer's and seller's interests, creating a public record of the transaction, and ensuring compliance with local property laws and regulations. The document must be executed on appropriate stamp paper, registered at the Sub-Registrar's office, and typically requires supporting documentation such as previous title deeds, tax receipts, and necessary permissions from local authorities.
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1. Parties: Identifies and provides full details of the Vendor/Seller and Purchaser/Buyer, including names, ages, addresses, and legal capacity
2. Background: Recitals explaining the ownership history, intent to sell, and agreement to purchase
3. Definitions: Defines key terms used throughout the deed for clarity and legal certainty
4. Property Description: Detailed description of the property including exact measurements, boundaries, and registration details
5. Title and Ownership Declaration: Seller's declaration of clear title, right to sell, and freedom from encumbrances
6. Consideration: Details of the sale price, payment terms, and acknowledgment of receipt
7. Possession: Terms and timing of property possession transfer
8. Representations and Warranties: Seller's warranties regarding property title, encumbrances, taxes, and legal compliance
9. Covenants: Ongoing obligations of both parties regarding the property transfer
10. Indemnification: Seller's commitment to indemnify buyer against title defects or undisclosed liabilities
11. Registration and Expenses: Responsibilities for registration, stamp duty, and other transaction expenses
12. Governing Law: Specification of Indian law as governing law and jurisdiction
13. Execution: Formal execution clause with witness requirements
1. Power of Attorney: Required when either party is acting through an authorized representative
2. Society NOC: Required for properties in housing societies, including society's approval for transfer
3. Mortgage Release: Required when property has existing mortgage that needs to be discharged
4. Foreign Exchange Compliance: Required when either party is an NRI or foreign national
5. Tax Compliance: Detailed section on tax implications when specific tax circumstances apply
6. Tenant Details: Required when property is currently tenanted
7. Development Rights: Required when property has unused development potential or TDR rights
1. Schedule A - Property Details: Comprehensive property description including exact measurements, boundaries, and features
2. Schedule B - Title Documents: List of all title documents and chain of title
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and installments if applicable
4. Schedule D - Encumbrance Certificate: Recent encumbrance certificate details
5. Schedule E - Property Tax Records: Details of property tax payments and any pending dues
6. Schedule F - Approved Plans: Municipal-approved building plans and permits
7. Schedule G - Inventory: List of fixtures and fittings included in the sale
8. Appendix 1 - Previous Title Deeds: Copies of previous ownership documents
9. Appendix 2 - NOCs and Permissions: Copies of various necessary permissions and NOCs
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Housing
Urban Development
Legal Services
Property Management
Real Estate Investment
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Documentation
Finance
Risk Management
Operations
Customer Relations
Business Development
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Construction Manager
Bank Manager
Mortgage Officer
Property Valuator
Compliance Officer
Real Estate Investment Manager
Title Officer
Property Documentation Specialist
Real Estate Transaction Coordinator
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