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The Sale Agreement For Resale Flat is a crucial legal instrument in Indian real estate transactions, specifically designed for the transfer of previously owned apartments or flats. This document becomes necessary when an existing flat owner wishes to sell their property to a new buyer, ensuring a legally binding commitment between parties before the final sale deed execution. It covers all essential aspects of the transaction including property details, payment structure, possession terms, and legal obligations of both parties. The agreement must comply with various Indian legislations including the Transfer of Property Act 1882, Registration Act 1908, and RERA 2016, as well as relevant state-specific laws. It serves as a preliminary agreement that outlines the terms and conditions of the sale, protecting both parties' interests and forming the basis for the subsequent sale deed registration.

1. Parties: Details of the seller and purchaser including names, addresses, and legal capacity

2. Background: Brief history of the property ownership, reason for sale, and context of the transaction

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

4. Property Details: Comprehensive description of the flat, including exact location, measurements, and boundaries

5. Sale Consideration: Purchase price, payment terms, and schedule of payments

6. Mode of Payment: Specified methods of payment and banking details

7. Possession: Terms and conditions for handling over possession of the property

8. Title and Ownership: Seller's warranties regarding clear title and ownership rights

9. Representations and Warranties: Declarations by both parties regarding their capacity and property status

10. Seller's Obligations: Responsibilities of the seller including documentation and maintenance until possession

11. Purchaser's Obligations: Responsibilities of the purchaser including timely payments and documentation

12. Registration and Expenses: Details about registration process and allocation of associated costs

13. Handover Process: Procedure for physical handover of the property and documentation

14. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction

15. Dispute Resolution: Process for handling disputes between parties

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

17. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

18. Execution: Signing and witness details