A deed of sale is a document that actually transfers the rights associated with a property from one party to another. It is usually drafted as a continuation of the agreement to sell. All the terms and conditions mentioned in the former would be fulfilled and observed in a deed of sale. Following are some of the points that are mentioned in a Sale Deed.
- Description of the ownership and property
- Clear titles verified by the purchaser
- Reference to the Agreement to Sell and the price details
- Release/discharge of the property with description of facilities measurements, privileges, easements and other rights
- Furthermore, transfer of all rights, interests, claim, demand whatsoever of the property
- Facilitating peaceful enjoyment of the property without hindrance
- Indemnifying the purchaser against losses arising out of negligence/actions of seller or heirs
- Also gives full authority of vendor to sell.
In short, a Sale deed mentions more of the transfer of property and rights which forms the crux of it. All other terms and conditions are mentioned in the agreement to sell. It is more important than sale agreement.
*Therefore, sale deed is the most essential document transfering rights to sell further, make a gift deed, or nominate the property. It has to be registered, notarization will not do. Always insists on sale deed from builder / seller.