Agreement Of Sale – Definition: An agreement of sale constitutes the terms and conditions of the sale of a property by the seller to the buyer. These terms and conditions include the amount at which it is to be sold and the future date of full payment.
An Agreement to Sale is a contract where one party agrees to sell some property to another party at a future date, subject to the terms and conditions mentioned in the agreement.
An Agreement to Sale is not a Sale Deed and the purchaser does not automatically become the owner of the property unless that property is specifically handed over by the seller as per the provisions of the Agreement to Sale.
An Agreement to Sell with the delivery of possession of the property is a compulsorily registerable document and an unregistered Sale Agreement has no value in the eyes of law.
The Agreement must be registered in the office of the Concerned Sub Registrar within whose jurisdiction the property is situated after payment of the applicable Stamp Duty and registration fee.
While a Sale Deed is used for the transfer of ownership of freehold properties, a Sale agreement is generally used for the transfer of leasehold properties such as Flats, Plots, Shops etc. allotted by the DDA, L&DO, MCD etc.
Stamping & Registration of Agreement to Sell in Delhi
- Both parties are required to be present before the sub-registrar office for the presentation of the agreement to sale, along with their two witnesses with their identity (ID) proof.
- Paying stamp duty equivalent to that on the registration of a sale deed. The registration fee is 6% in the case of men and 4% in the case of women.
- The registration fee @ 1% of the value of the property as per the circle rate, is required to be payable.
Our law firm provides information and help for the Drafting and Registration of all types of Legal and Property Documents across all the Sub-Registrar Offices in Delhi including the following:-
- Sale Deed
- Lease Deed / Rent Agreement
- Agreement to Sell
- Gift Deed
- General Power of Attorney (GPA)
- Release/ Relinquishment Deed
- Other Property Documents
We provide these services all over Delhi. you may contact us by visiting at www.legallightconsulting.com