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The Preliminary Sale Agreement is a fundamental document in Indian property transactions, serving as a bridge between initial negotiations and the final sale deed. This document is typically used when parties have agreed on essential terms of a property sale but need time for due diligence, document verification, or financing arrangements before executing the final sale deed. It outlines key commercial terms, payment schedules, and conditions precedent while creating legally binding obligations under Indian law. The agreement must comply with various Indian legislations, including the Indian Contract Act, 1872, and state-specific property laws. While registration is not always mandatory for preliminary agreements in India, parties often choose to register them to ensure better legal protection and enforcement.

1. Parties: Identification and details of the seller and purchaser, including names, addresses, and other contact information

2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into a sale transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Detailed description of the property being sold, including location, dimensions, and boundaries

5. Purchase Price: Agreed purchase price and payment terms, including initial deposit and payment schedule

6. Due Diligence: Process and timeline for the buyer to conduct property investigation and document verification

7. Conditions Precedent: Conditions that must be satisfied before proceeding to final sale agreement

8. Timeframe: Timeline for completion of the preliminary agreement and moving to final sale deed

9. Seller's Obligations: Commitments and warranties from the seller regarding the property and transaction

10. Purchaser's Obligations: Commitments and obligations of the purchaser including payment terms

11. Default and Termination: Consequences of default by either party and circumstances for termination

12. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction over disputes

13. Notices: Method and addresses for serving notices between parties

14. Execution: Signature blocks and execution formalities