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Sale Agreement Need To Be Registered

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« A contract for the sale of real estate is a contract to sell the property under the terms set by the parties, » Section 54. Section 54 adds: « It does not in itself create interest or royalty for such a property. » Therefore, we can say that the provisions of the RERA Act 2016 apply as a priority to the Registration Act 2016 only with respect to the sale agreement. The above definition shows that a purchase agreement contains a promise to transfer the property in question in the future under certain conditions. This agreement itself therefore does not create any rights or interests on the property for the proposed buyer. A purchase agreement is an agreement to sell a property in the future. This agreement sets out the conditions under which the property in question is transferred. Sharma subsequently refused to comply with the agreement on the grounds that no final, legal and binding sales contract had been registered by the parties and that the existing agreement could not be obtained as proof of the alleged contract. « Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act). » The section 49 regime provides for a derogation from the above rule, providing that an unregistered document, which relates to the property and which must otherwise be registered either by the registration law or by the TPA, can be obtained as proof of a contract in an appeal for a specified benefit or as evidence of an incidental transaction. The Supreme Court in KB Saha-Sons (P) Ltd/Development Consultant Ltd [(2008) 8 CSC 564] found that a mandatory document, if not registered, can only be considered in a court action for a given benefit as evidence of a contract performed between two parties and that this unregord document cannot be considered as proof of the content of the contract. Therefore, if a document is inadmissible as proof of non-registration, none of its provisions can be admitted as evidence. 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. 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.

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