Whenever someone buys a property or takes out a home loan, mortgages a property for a loan or rents a property for a long term, it is necessary that it take out all documents relating to the property before making a purchase decision so that the owner is not in legal trouble in the future due to inappropriate documents. A penalty clause should be included in the sales contract, which clearly defines the milestones and penalties in the event of seller and buyer failure. « The payment plan clause determines the total amount to be paid and the period in which it must be paid, » Hariani said. « In cases where payment is made in increments, the payment plan provides details of each tranche. This will avoid any ambiguity that may arise in the future, » Hariani said. The contract must obtain full payment details from the buyer, including the mortgage, if applicable. The termination clause defines the consequences that will be imposed on the parties in the event of a breach of the code of conduct that can be expected of them. The agreement may include either a « time termination clause » under which each party can terminate the agreement. It was the first time in the country!!! Data from the records made is updated in real time on eSearch.Please just before transactions to prevent fraud. The agreement must cover the full information provided by the seller. These include the name, address, PAN number and information from the father`s bank account.
It must also provide accurate information on the location of the property and on the communal service, tehsil (administrative service) or on the collector`s record land number. The agreement should be attested by two people, each on the buyer`s and seller`s side. « The date of ownership of an apartment is important for the buyer to transfer the apartment by the owner. This is the date on which the buyer must take possession of the premises and requires the developer to return the property until the date specified in the agreement. If possession is not granted before that date, the buyer has the right to sue, » said Anirudh Hariani, hariani and Company`s lawyer. There are two options for checking and downloading Index II. The buyer must carefully review all important real estate documents before purchasing the property. These include coverage clauses, termination clauses, dispute settlement clauses, amenities and punitive clauses. The « entity time » clause in an agreement sets out the contractual time frames the parties have to meet their obligations. Finally, the registration of a legal sales contract is an advantage for the buyer, as it offers protection against legal complications at any stage of the property or a possible resale.
No changes can be made after treaty change and registration. If an amendment is to be made, the buyer`s approval must be obtained and an endorsement is provided for in the agreement. The seller must confirm the authenticity of the title documents and the transfer of ownership in the contract. All data physically available in the 1985 SR offices are online for the city of Mumbai and the suburban districts « The seller must confirm the authenticity of the title documents and the transfer of ownership in the agreement, » Puri explains. « It must also make it clear that the transfer and transfer of ownership is done in a legal and fully tested manner. The agreement must take into account the fact that all taxes related to the property have been paid up to the date of the transfer. In addition, the contract must fully compensate the purchaser for any litigation related to Deminproperty and the possession of the property.