A sale deed is a legal document related to the transfer of ownership of property from the seller to the buyer. It is an important legal document that as proof of ownership and is needed for any transaction involving the sale of property. The sale deed in Mumbai must be registered with the Sub-Registrar of Assurances in Mumbai.
A sale deed is essential for both the parties which are registered as per Registration Act, 1908. Make your Sales Deed Registration in Mumbai easy with Advocate Rohan Venkatesh Yemul.
Content in the Sale Deed
A Sale Deed Must contain the following Details:
Full Names of the buyer and the seller
Residential Addresses of the buyer and the seller
Details of the property such as:
Identification number
Exact location and address
Date and place of execution of the agreement
Total payable amount for the property
Token amount given as advance if any
Payment Method or Mode
Payment Time
Terms and action to be taken if either the buyer or the seller commits fraud
Tenure for all procedures to be completed
Production and inspection of title deeds
Other miscellaneous expenditure and who will bear this expenditure
Date of possession of the property
Date on which the seller would provide the original property related documents to the buyer
Declaration by the seller that the property is not subject to any government acquisition
Declaration by the seller that the property is free from any liabilities such as lease, mortgage, or charge on the property.
Steps in Sale Deed Registration
1 Drafting of Sale Deed:
The first step is drafting the sale deed which should contain all necessary details like names and addresses of the buyer and seller, description of the property, payable amount for property, and other payment terms.
2 Payment of Stamp duty and registration fees:
The stamp duty and registration fees is paid as per valuation of the property.
3 Registration of sale deed:
in the final step the sale deed is registered with the sub- registrar of the assurances. The buyer and the seller must be present in person with two witnesses for signing the sale deed in front of the sub-registrar.
Before sale deed one should ensure the title search is done and must ensure that there are no encumbrances like lien, mortgage etc. For more details please consult Advocate Rohan Venkatesh Yemul at +91 9773795904