Upon purchasing a resale flat, an "Agreement for Sale" was drawn up, stamped, and registered at the sub Registrar office. All associated payments, including the 1% stamp duty and 6% registration fees, were settled by you. I can provide an overview of your queries with reference to Indian property law.
1. Agreement for Sale vs. Sale Deed:
- The Agreement for Sale is a preliminary contract where the seller agrees to sell and the buyer agrees to purchase the property under certain terms and conditions. It's typically the first step before the actual transfer.- The Sale Deed is the final document that legally transfers the ownership from the seller to the buyer. It needs to be executed after fulfilling all conditions mentioned in the Agreement for Sale. The Sale Deed should be drafted, stamped, and registered to conclude the transaction.
- In your case, since the Agreement for Sale is already stamped and registered, the next step should be the execution of the Sale Deed. Ensure that the terms of the Agreement for Sale are met before proceeding.
2. Conveyance Deed and Share Certificate in a Society:
- The Conveyance Deed is a legal document that transfers the title of the property from the builder/developer to the society formed by the residents.
- Share Certificates represent the ownership of a specific unit or share in the society.
- In your scenario, the conveyance deed and share certificates are typically issued once the entire construction is completed, all necessary approvals are obtained, and the society formation is finalized. The completion of the pending building might delay the issuance of the conveyance deed and share certificates for the entire society.
3. Title Deed and Its Importance:
- The Title Deed is a legal document that establishes the ownership of the property. It contains details about the property's history, ownership, rights, and obligations.
- Having a clear and marketable title is crucial to prove ownership and sell the property in the future. The Title Deed serves as evidence of rightful ownership.
- Under Section 32 of the Indian Registration Act, 1908, the Title Deed needs to be registered to provide legal sanctity to the ownership claim.
- In the absence of a clear title, it can lead to disputes and affect the marketability of the property.
It's advisable to consult a local property lawyer for specific advice and guidance tailored to your situation, as laws and procedures might vary based on the specific state in India.