FLAVOUR OF THE MONTHand is essential at the time of
selling. Thus, it's important to
read the papers carefully
before you sign the document.
The Documents that are dealt
with in a house property are:
A. Sale Agreement:
This is the first document
provided by the seller/builder
to the buyer/customer. This
agreement mentions the
details of the property, its
terms and conditions and
purchase price/value of the
property at the negotiated
rates. The next step after the
sale agreement is the sale
deed.
B. Sale Deed:
Sale Deed is also termed as
Title Deed/ Mother Deed/
Conveyance Deed. Here, title is
ownership of the property and
deed is to transfer the
ownership. It is one of the
major evidence of sale and
transfer of ownership from
seller to buyer. It's essential for
the buyer, during a re-sale of
property where the document
is the actual proof that the
seller is the legal owner of the
property. Sale deed needs to
be registered with the registrar
under a jurisdiction. When you
purchase a property or take a
home loan, sale deed is
essential.
Before you execute a sale
deed, you need tocheck
th o r o u g h l y t h e s a l e
agreements is compliedwith
various terms and conditions
stated by the seller. Buyer
needs to check for any
encumbrance charges that the
property is indulged or not.
Make sure the statutory
payment like property tax,
cess, water charges, electricity
charges, society charges,
maintenance charges, etc.
stated in the agreement is
mentioned to the buyer before
making a sale deed. Seller or
owner of the property may
have taken the property under
the Title deed which is referred
to as a statement among the
deed they choose either by
purchase, inheritance,
partition, by way of gift or
settlement, release, etc.
C. Encumbrance certificate:
Encumbrance certificate
consists of all the registered
transactions taken place