« Locked-in property can only be transferred by a transport permit (deed of sale), duly stamped and registered legally. We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation. This absolute rule is subject to the exception of Section 53A of the Transfer of Ownership Act. Section 53A provides that the seller has no right to disturb the purchaser`s possession if the purchaser has entered into possession of the property that is the subject of the transfer, while fully acquiring its portion of the contractual obligation. It should be noted that Section 53A provides the proposed purchaser with a shield against the seller and prevents the seller from disrupting the purchaser`s property, but it does not cured the buyer`s property. The property`s ownership remains in the hands of the seller. The main differences between these two main ownership documents are listed below; […] You with all aspects of your purchase/sale of a property – from the drafting of the sales contract to the registration of it on your behalf. We have a network of specialized lawyers […] You need to think about why we are focusing on these two concepts. Well, the reason is that most people think these two terms are the same, which is not true. These two terms are poles far apart and it is important to know the difference between the purchase agreement (also known as the « Sale Agreement ») and the Deed Sale. If we say the fundamental difference between these two, you can understand by the fact that the purchase agreement is the promise of ownership transfer, while Sale Deed is the actual transfer of ownership.
The sale contract may or may not lead to an effective sale of the property in question. Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport record, as well as a proper transport record, are subject to the same stamp duty as the one in force for the proper sale of a property. Under these provisions, which require the payment of stamp duty on a sales contract, a sale agreement is wrongly considered a good act of sale. Yash warned his friend that the format of an agreement with the seller can be either a deed of sale or a sales agreement. Therefore, Siddharth must be aware of the discrepancy between the two. Neither Siddharth`s real estate agent nor his developer mentioned that the deed of sale and a purchase agreement are two different things! The parties to the contract enter into a property sale agreement when all the conditions set out in the sale agreement are met.