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Sales Agreement Registration

4) If you receive an agreement written by a lawyer, you would be safe This absolute rule is subject to the exception of Section 53A of the Transfer of Ownership Act. Section 53A provides that, when the purchaser has entered into possession of the property, the purpose of the transfer is the property, while it fully respects its share of the contract commitment. the seller has no right to disturb the property thus granted to the buyer. 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. 3) As soon as the sale is executed, the sales contract has no value. Article 13, paragraph 1 of the RERA Act 2016 states that “the project proponent may not accept more than 10% of the cost of the dwelling, land or building, as may be the case in the form of an advance payment or a registration fee of a person without first entering into a written sales agreement with that person and registering the agreement for sale. according to a law in force at the moment.” Applying the provisions of Section 88 of the RERA Act 2016, we can verify, in the analysis of the provisions of both provisions, that section 17, paragraph 2(v) of the Registration Act 1908 denies the RERA Act 2016. Therefore, under section 89 of the RERA Act 2016, the provisions of the Registration Act 1908 are not taken into account when registering the sales contract. .

The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the owner-buyer agreement and not from the date of registration of the project under the Real Estate Act (regulation and development). , 2016. The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. 1) On the basis of a sale agreement, the purchaser may apply for a credit for the purchase of the property Although the RERA Act 2016 provides for a non-fruit clause in Section 89 and applies as a result of the same RERA through the Registration Act 1908. On the other hand, it also raises another question as to whether a sale agreement creates a right, title or interest in the property? The registration of the sales mark must not erase the existing entry, i.e. the sales contract. This will remain the case and the last entry is the sales contract between the same parties that were included in the sales contract, so it will provide reasonable grounds for the appearance of such entries in the certificate of charge. Ownership of all land should be clear and marketable, and it is said that it is done as such when executing the deed of sale. However, in practice, buyers make a sales contract as a precautionary measure, although they are aware that it does not create title to a property. A deed of sale is considered an authentic instrument and also establishes a clear title to the property, since it is a document subject to the obligation, pursuant to Section 17, paragraph 1, of the Registration Act 1908.

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