Agreement On The Purchase And Sale Of Immovable Property

Under Section 2 of the Alienation of Land Act (No. 68, 1981), an agreement on the sale of land must be signed and dated in writing and by both parties (i.dem the seller and the buyer). At least the contract must contain a description of the seller and buyer, a description of the property for sale and the purchase price. These are known as the essential conditions of the agreement. But this is not the end. The additional conditions essential to the sale must also be mentioned in the agreement. These essential concepts are not easy to define, but it must be kept in mind that there is no valid agreement if an essential concept has not been definitively agreed and is left open to further negotiations. The processing of the sale of the land ends, among other things, by the method of payment of the purchase price, the supplement, the suspensive conditions and other special conditions, as well as the professional date and the possible operating rent. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. A deed of sale is a legal document that proves that the seller transferred absolute ownership of the property to the buyer. Through this document, the rights and interests of the property are acquired by the new owner. A deed of sale usually consists of the following information- Remember here that both parties must comply with the terms of the sales contract.

Any party that does not comply with any of the terms of the agreement could be brought to justice if the other party so wishes. All parties involved should also ensure that this document can be used as legal evidence before the court of law and that all those who have agreed to comply with the conditions are required to do so. However, the parties may agree that a new certificate must be submitted, even if the current certificate is less than two years old and no change or addition of the facility has taken place (which is often the case for many standard offers). It is important to ensure that all areas of the agreement are filled or barred. If there is no consensus among the parties on what has not been fulfilled, there is no agreement. Although there is no law that requires the removal of asbestos, the cost of removing asbestos is generally high and must be taken into account when considering the value of the property. It is possible to include a particular condition in the sale of the land, which requires that asbestos-containing materials be removed prior to the transfer at the seller`s expense. The suspensive conditions are generally misunderstood. Most land sale agreements contain suspensive conditions, and a brief discussion may be of assistance. The Supreme Court of India in 2012, in the case of Suraj Lamp – Industries (P) Ltd (2) / State of Haryana, while the treatment of the validity of the sale of real estate was done by proxy, decided that the agreement between a real estate builder and a residential consumer for the construction or sale of a home is considered a guarantee that the real estate consumer applies against the builder in each court , that – For many people, the purchase of a real estate will probably be the most expensive item they will ever buy.

It is essential to ensure that the agreement complies with the various legislative provisions affecting the agreement, as well as the applicable tax considerations.