(b) The buyer notices a defect of dements before the sale settlement is implemented. The seller must keep a separate account for the amounts the seller receives from the seller of the apartments in the form of advance or deposit received because of the legal fees and the execution of other documents to be completed, and uses the amounts only for the purposes for which they were received and after the transfer of that property. balances are transferred from sellers to home buyers. In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. 10. This Contracting Party No. 1 cannot in the future violate any of the terms of this agreement if it does not have the right to enforce the agreement by a competent court through an action for practical benefit or otherwise at the expense, risks and consequences of Part 1. 11. Let Part 1 admit that no rights, title, interest or concern of any kind have been left in the aforementioned dwelling. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. (e) If, at the time of execution of the deed of sale, the seller does not provide permanent ownership of the property. Signing a purchase agreement becomes important given several factors.
First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. Property Sale Agreement is the most important document. It is different from Sale Deed, although in some cases the sale agreement is registered as a sale of deed.