The sales contract is not a title document, so it is not possible to grant a loan on the basis of a sales contract, but private financiers can grant it because they know how to recover in the future in the event of default. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. there is a difference between the sale and sale agreement or the sales contract. in your case, that is, the purchase of sale contract, there is no right, because there is no consideration at the time of the agreement. in some cases, you can give serious money. If you have specifically mentioned or set the deadline, i.e. above and the other, this contact is made with the deadline set by the contract. 2. The agreement on the sale fades into insignificance after the execution of the sale statement. In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. A purchase agreement is an agreement to sell a property in the future. This agreement sets out the conditions under which the property in question is transferred.
The Transfer of Ownership Act of 1882, which governs the issues of the purchase and transfer of real estate, defines the sales contract or a sales contract as sub: Signing a sales contract becomes important given several factors. First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. This question arises because the registration of documents is usually made to guarantee a clear right and ownership of the property to the buyer. A sale agreement as such does not constitute a clear property of the property. In the case of Durgawati Devi/Union of India2, the Supreme Court ruled that the execution of the sale contract did not entrust ownership of the property and that the property would be transferred only by transportation authorization. This absolute rule is subject to the exception of Section 53A of the Transfer of Ownership Act. Section 53A provides that the seller has no right to disturb the purchaser`s possession if the purchaser has entered into possession of the property that is the subject of the transfer, while fully acquiring its portion of the contractual obligation. It should be noted that Section 53A provides the proposed purchaser with a shield against the seller and prevents the seller from disrupting the purchaser`s property, but it does not cured the buyer`s property. The property`s ownership remains in the hands of the seller. It`s just a deal for the sale.
it is limited to the terms of the agreement. If you want to cancel it, you can do so because there is no legal right. If the buyer cannot complete the sale within the allotted time, you can revoke this contract. On 31 October 2020, a 40-year-old man was arrested by Noida police for deceiving a bank of 2 Crores by forging sales papers and using loans.