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What Is A Registered Sale Agreement

“By transposing the name only into mutation records, it cannot be said to have ownership of the property. Please note that in the absence of a registered deed of sale in their name, the transfer is invalid and illegal.┬áLegal experts say that if Section 17 of the Indian Registration Act (which requires the registration of documents such as the sales contract) had been in practice in real estate, thousands of real estate buyers would not have been victims of real estate fraud and misbehaviour. To understand the conflict between RERA and Registration Act, it is important to understand the difference between the sale agreement and a deed of sale. The contract of sale and the deed of sale are two equally important documents. The distinction between these two documents is not known to all and the two are considered synonymous. In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS. In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b). An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required.

In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale. In the absence of a deed of sale duly stamped and registered, no right, property or interest for a property, the buyer of the property. The sales contract is not a title document, so it is not possible to grant a loan on the basis of a sales contract, but private financiers can grant it because they know how to recover in the future in the event of default.