What is the meaning of Registered Sale agreement, please let me know the procedure to register a sale agreement.
VIJAYAKUMAR (Asst.Manager Lega) 19 October 2011
It means registered Agreement for Sale. If buyer wants to enter into an agreement with Seller for buying property then the first stage is to pay advance to seller and enter into an agreement for sale with him.
In that agreement it is to state that the buyer is willing to purchase the property and paying some amount as earnest money and before the period of 3 months he will pay the balance consideration and the seller has to execute the sale deed at the Registration office as otherwise the buyer will file a suit according to Specific relief act and get regisration done through court.
The registration of Agreement for sale is optional, but it is always safe to rigister the agreement for sale.
rajkumar.vnm.marupeddi (advocate) 22 October 2011
IN Andhra Pradesh, the registration of sale agreement is not optional. If a sale agreement is entered into between two parties with regard to development of any land into plots, if it is of commercial nature, definitely, the sale agreement would be registrable document. if it is not a commercial transaction, it may be optional. In other states, the legal position may be different ............ M.RAJ KUMAR.VNM
Bals (Executive) 23 October 2011
Thank you Sir,
Recently I have entered into an agreement of sale(unregistered) and received a token amount. We are four legal heirs, my mother and myself(sellers) signed the agreement, but my two married sisters are not ready to sign the agreement. So we asked the buyer to cancel the sale agreement, but he has not accepted for that and issued us a legal notice stating and forcing that we need to execute sale deed compulsory including my sisters signatures whereas they are not ready to do so.
At this stage can we cancel the agreement of sale? Please need a quick reply... I am from Hyderabad.