Documents
what are the documents required for sale agreement
· Draft of Sale Deed
The primary document of utmost importance is the preliminary version of the sale deed document. While it is possible for an individual to create their own sale deed, it is highly advisable to engage the services of a reputable attorney. A legal professional possessing significant expertise and knowledge in the field would be well-versed in the essential elements of composing legal papers such as sale deeds.
Through articulating your requirements and necessities, a proficient legal practitioner composes your sale deed inclusive of all essential provisions, thereby mitigating potential legal liabilities. Vakil Search offers the opportunity to engage the services of a legal professional from a team of experienced attorneys, thereby facilitating the retention of legal representation. Efficiently prepare your sale deed within a short span of working days.
· The legal concept of Power of Attorney refers to the authorization granted by one individual to another to act on their behalf in legal or financial matters.
It is imperative for the owner of a real estate property to ensure that the purchase or sale of said property is validated by a reputable individual, such as an attorney or agent.
· The No Objection Certificate (NOC) is a document that indicates the absence of any objection or opposition to a particular action or decision.
In the context of housing projects, it is imperative for the property owner or developer to acquire No Objection Certificates (NOCs) from multiple legal authorities. The issuance of a NOC certificate serves as legal evidence and helps to reduce the potential for legal liability and subsequent litigation.
· A replicated version of the architectural blueprint.
As part of the sale deed registration procedure, it is required to provide the building plan that has been duly authorized and approved by the relevant statutory body. This duplicate of the building plan guarantees that the architectural design of the property conforms to the legal requirements and regulations.
· The allotment letter is a document that confirms the allocation of a particular asset or resource to an individual or entity.
The issuance of a document by the co-operative society, builder, or housing board occurs concomitant with the drafting of a sale deed or the documentation of a sale agreement. The procurement of a home loan necessitates the submission of this aforementioned letter.
· Letter of Possession
The transfer of possession of an immovable property is indicated by the seller through the provision of a possession letter to the buyer.
· The records pertaining to the proprietor.
The possession of title documents serves as evidence of ownership for the property owner or developer.
· Agreement of Sale
This formal document presents the legal agreement between the vendor and purchaser. The present sales agreement encompasses all the fundamental particulars, including the written commitment of both the vendor and purchaser for the conveyance of merchandise. The terms and conditions that have been mutually agreed upon by both parties have been incorporated as well. Additional particulars encompass the mode of payment, the repercussions for failing to adhere to the initial terms, the nature of the remuneration, and so forth.
· Receipt of Property Tax Payment
The individual who previously owned the specific property is responsible for settling any outstanding property tax obligations, if applicable. This also aids in determining the legal status of the property.
· Receipts of Payment
When dealing with a novel property, it is necessary to gather the initial payment receipts issued by the proprietor or the builder. The provision of receipts copies is necessary in the event of the resale or transfer of ownership of a previously owned item.
· The Occupancy Certificate is a legal document that confirms a building’s compliance with local building codes and regulations, allowing it to be occupied by tenants or owners.
The certificate attests to the readiness of the property for occupancy.
· Certificate of Completion
The verification of compliance with the approved plan can be ascertained by examining this certificate.
· The Encumbrance Certificate is a legal document that provides information on any registered transactions pertaining to a particular property during a specific period of time.
The presentation of this certificate is a prerequisite for the registration of the sale deed, as it serves as proof that the property in question is free from any outstanding legal obligations or encumbrances such as mortgages.
Sale Agreement Form
Summary
A sales agreement is essential to protect the rights and interests of both the buyer and the seller. It provides clarity and certainty regarding the terms of the sale and helps prevent misunderstandings or disagreements between the parties involved.