Is there need to enter in sale deed?

Q: Hi,

I have registered Agreement of Sale which bank has accepted for loan disbursement.

Is there a need to enter in sale deed also.

Anuj Vyas,

23rd October 2015

Legal in Mumbai

sale deed

agreement to sell

why sale deed is a ncessary document?

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Replies (2)

Hi,
Sale Deed is also known as conveyance deed. This is a document through which the seller transfers his right, title and interest in a property to the purchaser, who, in turn, acquires and holds the same as an absolute owner. Even though it is neither necessary nor mandatory to enter into a sale agreement before entering into a sale transaction, it is advisable to enter into a sale agreement wherein the terms and conditions of sale could be minutely stipulated.

Bikram, Mumbai

28th October 2015

Comment

Hi,
Since you have registered "Agreement of Sale" which has a limited validity period. So legally, you are not safe unless you have a "Sale Deed" in your name.
My suggestion is to go for a proper "Sale Deed" even if it means more expense. Else, you might face problems in the future while trying to sell the property.

Rakshit, Mumbai

27th October 2015

Comment

Hey Anuj,
A sale deed is the main document in a transaction of sale and purchase of property. A sale deed acts as the main legal document that evidences the sale and transfer of ownership of property in favour of the buyer from the seller. It also acts as the main document for further sale by the buyer as it establishes his proof of ownership of the property. So, go for it if you don't want to face any issue in the future.

Ravindra Singh,

27th October 2015