Sale/ Adv Agreement

An Agreement to Sell (also called a Sale Agreement) is a legal document that outlines the terms and conditions under which a property will be sold by the seller to the buyer at a future date. It includes details like the property description, sale price, payment terms, possession date, and responsibilities of both parties. Ownership is not transferred immediately but will be completed through a Sale Deed after fulfilling agreed conditions.

Procedure:

Negotiation & Terms Finalization :

• Buyer and seller agree on the sale price, payment method, possession date, and other conditions.

Drafting the Agreement :

• A lawyer or legal professional drafts the agreement including all essential clauses (e.g., advance payment, time frame, default penalties, etc.).

Stamp Paper :

• Prepare the agreement on non-judicial stamp paper of appropriate value as per state laws.

Execution :

• Both buyer and seller sign the agreement along with two witnesses.

Registration (optional but recommended) :

• The agreement can be registered at the sub-registrar’s office for better legal protection (especially for high-value transactions).

Fulfillment of Conditions :

• Buyer completes payment as agreed, and the seller ensures all legal clearances and possession are ready.

Final Sale Deed :

• Upon completion of all conditions, a Sale Deed is executed and registered to legally transfer ownership.