Agreement to Sale Registered

Agreement to Sale Registered: What You Need to Know

If you are planning to purchase a property in India, you might come across the term «agreement to sale registered». But what does this mean and why is it important?

In simple terms, an agreement to sale registered is a legal document that establishes an agreement between the buyer and the seller for the sale of a property. The agreement contains details such as the property`s location, size, price, mode of payment, and possession date. Additionally, it is registered with the local sub-registrar`s office to make it legally enforceable.

Why is Registration Important?

Registering the agreement to sale is crucial because it provides legal protection to both the buyer and the seller. A registered agreement can be used in court as evidence in case of any disputes or legal issues that may arise in the future. Moreover, a registered agreement is considered as a valid proof of ownership of the property.

In India, the registration of the agreement to sale is governed by the Registration Act, 1908. According to the act, a sale agreement has to be registered within four months of its execution, failing which, the agreement becomes invalid.

What are the Documents Required for Registration?

To register the agreement to sale, both the buyer and the seller need to provide certain documents. These include:

1. Copy of the property`s title deed

2. Copy of the property`s tax receipts

3. Copy of the property`s building plan approval

4. Copy of the seller`s PAN card

5. Proof of payment of stamp duty and registration fees

6. Two passport size photographs of the buyer and the seller

7. Identity proof and address proof of both parties

What are the Benefits of Registered Agreement to Sale?

Here are some of the benefits of having a registered agreement to sale:

1. Legal protection: A registered agreement provides legal protection to both the parties involved in the sale.

2. Proof of ownership: A registered agreement is considered as proof of ownership of the property.

3. Clarity: A registered agreement clearly outlines the terms and conditions of the sale and avoids any confusion or misunderstandings.

4. Tax benefits: A registered agreement attracts lower stamp duty and registration fees, which can result in tax savings for both the parties.

Conclusion

In conclusion, an agreement to sale registered is a crucial document for anyone planning to purchase a property in India. It provides legal protection, proof of ownership, and clarity to both the buyer and the seller. So, if you are planning to buy a property, make sure to get the agreement to sale registered to avoid any legal hassles in the future.