Sopan (MANAGER) 20 March 2013

Agreement to sale vs sale deed

I have booked a flat in Pune for which i have paid partial amount & rest will be paid by banck once Registration of Agreement to sale is done. I will also Stamp duty for said flat at time of this Registration.

After that Bank will release the loan amount to Builder, whether is it necessasry to do Sale Deed and register it for this flat? Builder has sugessted that he will do Conveyance deed with society, not with indivisuals. Whether this will serve the purpose?

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Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 20 March 2013

sale deed: It serve your purpose.

A sale deed acts as the main legal document for evidencing sale and transfer of ownership of property in favour 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 sale deed is executed subsequent to the execution of the sale 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 transfers his right on the property to the purchaser, who then acquires absolute ownership of the property.

Conveyance:

Conveyance records the transfer of interest in immovable property. The conveyance in the immovable property may take place by way of sale deed, gift deed, exchange deed etc.

Difference - Conveyance deed & Sale deed :

Conveyance and sale deed essentially have no difference as in both the documents, the right, interest and title of the previous owner is transferred to the purchaser.