Document background
The Agreement For Sale Of Immovable Property is a crucial legal instrument in Pakistani property transactions, essential for both commercial and residential property transfers. It serves as the primary document establishing the rights, obligations, and commitments between the seller and purchaser of immovable property. This agreement is mandated by Pakistani law and must comply with various legislations including the Transfer of Property Act 1882, Registration Act 1908, and relevant stamp duty laws. It is used whenever there is a transfer of immovable property, whether it's land, buildings, or both, and includes vital information such as property details, payment terms, warranties, and completion requirements. The document requires mandatory registration at the Sub-Registrar's office and attracts stamp duty as per applicable rates in the relevant Pakistani jurisdiction.
