Sale agreement

Querist : Anonymous (Querist) 19 November 2017 This query is : Resolved
Sir advice me in drafting sale agreement
Like seller has mortgaged the property in bank for 13 lac now the rate has been finalize between buyer and seller . the buyer is paying a small amount of 5 lacs as advance and he said he will settle the balalnce on before 3 month of agreement , now the seller want to include a point in agreement copy like the buyer will settle the dues to bank for the mortgaged property or he will give the the loan amount to seller for releasing the document from bank before sales registration , I need the correct sentence or words for writing in the in sale agreements .

Follow Query

Report Abuse

Ms.Usha Kapoor (Expert) 20 November 2017
Whereas the buyer will clear the seller's dues by clearing the mortgaged money or in the alternative pay the balance ;of loan amount to the seller so that the seller clears the loan on the subject mortgaged property before Registration of sale deed.
After registration of sale deed you insist on keeping the original registered sale deed with you lest the seller may resell the property to anyone.