Title deed acts as the main legal document for evidencing sale and sale and transfer of ownership of property in favor of the buyer from the seller. Further, it also acts as the main document for further sale by the buyer as it establishes his proof of ownership of the property.
The title deed is executed subsequent to the execution of the sale deed agreement and after compliance of various terms and conditions detailed in the sale agreement as agreed upon between the buyer and the seller.
The sale deed is the main document by which a seller/builder transfers his right on the property to the purchaser who then acquires absolute ownership of the property. It is also referred to as the conveyance deed.
The buyer should ensure the title of the seller before the execution of the sale deed. It should be checked whether there is any charge or encumbrance on the property and whether the purchaser is purchasing the property subject to such encumbrances. The purchaser should verify the encumbrance status from the sub-registrar’s office.
The sale deed is prepared on non-judicial stamp paper of requisite value as prescribed by the Stamp Act of the State concerned.
All pages of the sale deed are to be signed by all parties concerned. The sale deed should be witnessed by at least two witnesses giving their full names, signatures, and addresses. The sale deed of immovable property needs compulsory registration at the jurisdictional sub-registrar office. All the parties’ concerned need to be present at the time of registration. All documents should be presented in the original. In case the purchaser cannot be present personally before the sub-registrar, he can give a power of Attorney to a representative to sign and present the documents on his behalf. The photos of the purchaser, thumbprints and signatures are to be entered in the sale deed.
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