The Deed of Sale of Parcel of Land is a crucial legal instrument in Indian property transactions, essential for documenting and effectuating the transfer of land ownership. It is used when any person, company, or entity wishes to transfer complete ownership rights of a land parcel to another party for consideration. The document must comply with various Indian legislations including the Transfer of Property Act, 1882, Registration Act, 1908, and state-specific stamp duty laws. This deed includes detailed property descriptions, parties' information, consideration amount, title warranties, and transfer terms. It requires mandatory registration at the Sub-Registrar's office and attracts stamp duty as per state regulations. The document serves as permanent evidence of the transaction and forms part of the property's chain of title.
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1. Parties: Details of the Vendor/Seller and Purchaser/Buyer including full names, ages, addresses, and legal capacity
2. Background: Recitals establishing the Vendor's ownership, intent to sell, and Purchaser's agreement to buy
3. Definitions: Definitions of key terms used throughout the deed including 'Property', 'Completion Date', 'Purchase Price', etc.
4. Details of Property: Precise description of the land being sold including boundaries, measurements, and registration details
5. Consideration: Statement of the agreed purchase price and payment terms
6. Vendor's Title and Warranties: Declarations regarding clear title, authority to sell, and absence of encumbrances
7. Transfer of Ownership: Express words of transfer and conveyance of the property
8. Possession: Terms regarding the handover of physical possession
9. Registration and Expenses: Provisions regarding registration of the deed and allocation of expenses
10. Execution Clause: Formal execution block with signatures, witnesses, and notary attestation
1. Power of Attorney: Required when either party is acting through an authorized representative
2. Third Party Rights: Needed when there are existing tenants or other rights holders
3. Development Rights: Required for properties with transferable development rights or pending approvals
4. Agricultural Land Conversion: Necessary when dealing with agricultural land being converted for non-agricultural use
5. Outstanding Dues: Required when there are pending utility bills, taxes, or other charges
6. Indemnity: Additional protection clauses for specific risks identified during due diligence
7. Foreign Exchange Compliance: Required when either party is an NRI or foreign national
1. Property Description Schedule: Detailed technical description of the property including survey numbers, boundaries, and measurements
2. Title Documents Schedule: List of all title documents and previous conveyances
3. Encumbrances Schedule: Details of any existing charges, mortgages, or liens
4. Payment Schedule: Breakdown of payment terms and installments if applicable
5. Inventory Schedule: List of any fixtures, fittings, or other items included in the sale
6. Land Use Permissions: Copies of relevant permissions, conversions, and approvals
7. Property Tax Records: History of property tax payments and current status
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