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Sale And Agreement To Sell

Sale And Agreement To Sell Template for India

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Key Requirements PROMPT example:

Sale And Agreement To Sell

"I need a Sale and Agreement to Sell document for a residential property in Mumbai, with a 20% earnest money deposit and the remaining amount to be paid in three installments by March 2025, including standard representations and warranties for a residential property transaction."

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Document background
The Sale and Agreement to Sell is a fundamental document in Indian property law, essential for both residential and commercial property transactions. This hybrid document is particularly useful when the sale cannot be completed immediately but parties wish to formalize their commitment to the transaction. It combines elements of both an agreement to sell (future commitment) and a sale deed (present transfer), making it versatile for various property transactions. The document must comply with the Transfer of Property Act 1882, Indian Contract Act 1872, and relevant state laws regarding property transfer and registration. It's commonly used when payment is to be made in installments, when title verification is pending, or when certain conditions need to be fulfilled before the final sale. The document typically includes comprehensive property details, payment terms, warranties, and completion requirements, providing a legally binding framework for the transaction.
Suggested Sections

1. Parties: Details of the seller and purchaser including names, addresses, and legal capacity

2. Background: Context of the transaction, including seller's ownership and intention to sell

3. Definitions: Key terms used throughout the agreement

4. Agreement to Sell: Core agreement where seller agrees to sell and buyer agrees to purchase the property

5. Property Description: Detailed description of the property being sold including boundaries and measurements

6. Purchase Price: Total consideration and payment terms including earnest money deposit

7. Completion: Timeline and process for completing the sale, including execution of sale deed

8. Seller's Representations and Warranties: Statements about property title, encumbrances, and seller's capacity to sell

9. Buyer's Representations and Warranties: Statements about buyer's capacity and ability to purchase

10. Title Documents: List of documents evidencing title to be provided by seller

11. Conditions Precedent: Conditions that must be satisfied before completion

12. Default and Remedies: Consequences of breach by either party

13. Notices: Process for serving notices under the agreement

14. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

Optional Sections

1. Due Diligence: Process for buyer to investigate property title and condition - include when buyer requires investigation period

2. Property Possession: Terms for interim possession if relevant - include when possession is to be given before sale completion

3. Third Party Rights: Dealing with existing tenants or occupiers - include when property is occupied

4. Tax Provisions: Specific tax arrangements - include when complex tax implications exist

5. Force Majeure: Provisions for unforeseen circumstances - include for longer-term agreements

6. Assignment: Rights to assign the agreement - include when assignment might be needed

7. Broker/Agent: Details of any broker involved - include when transaction involves brokers

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive property description including exact measurements, boundaries, and fixtures

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms, installments, and due dates

3. Schedule 3 - Title Documents: List of all title documents and their copies

4. Schedule 4 - Encumbrances: Details of any existing encumbrances, loans, or charges on the property

5. Schedule 5 - Completion Requirements: Checklist of documents and actions required for completion

6. Appendix A - Property Plans: Architectural plans, site maps, and property drawings

7. Appendix B - Permissions: Copies of relevant permissions, approvals, and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































Clauses






























Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Commercial Property

Residential Property

Agricultural Land

Industrial Property

Relevant Teams

Legal

Real Estate

Compliance

Business Development

Property Management

Acquisitions

Contract Administration

Risk Management

Finance

Operations

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Property Developer

Business Development Manager

Compliance Officer

Real Estate Agent

Property Surveyor

Title Officer

Contract Manager

Real Estate Investment Manager

Property Acquisition Manager

Corporate Lawyer

Real Estate Portfolio Manager

Property Valuation Expert

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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