Sale Deed Preparation
The Property Sale Deed means the transfer of property between two living person or more than two persons mean there may be more than one owner of a property or may be more than one purchaser. However, it does not a matter. Transcribing a sale deed and related legal documents are required to transfer right, title, and interest in physical immovable property are undertaken from one person or party to other person or party. Drafting property documents is not just simple or ordinary art but it needs legal acquaintance and awareness and full knowledge of relevant rules and regulations. The Property Sale Deeds and Documents are strict with the transfer of property.
As annunciated vide Section 54 of The Transfer of Property Act, the Word SALE means change of ownership of any certain property in lieu of price either paid in lump sum or in tranche and the transaction is duly covered legally and transcribed on legal documents and the statements of the owner and purchases with witnesses should be recorded before a duly designated and authorized governmental body or forum. The sale deed clearly shows complete details regarding property comprising size, area and revenue estate of the property including full details of terms and conditions and complete particulars of the owner and purchaser. It is also to be worth mentioning that all the expenses on sale transaction are to be paid by the purchaser. When it is done with it means that all legal rights have been transferred to the purchaser and now the purchaser has the physical possession of the immovable property in question.
Let us have a review of all this process. As and when the parties’ means owner and purchaser reach to an oral agreement regarding the sale of any property an immediate document is required to be executed. It is called Agreement to Sell. In the agreement to sell all the terms and conditions regarding the property in question and terms and conditions of payment are set out in a logical manner. The time frame is also given in this agreement and a certain amount of advance mean earnest money is to be paid by the purchaser to the seller.
When an agreement to sell is executed now both parties take necessary steps for proceeding further towards the Sale Deed within the scheduled time. Seller is supposed to provide all necessary documents pertaining to ownership like mutation deed etc. and the purchaser is supposed to arrange consideration amount.
When both parties are ready with necessary requirements this is the time to transcribe and a Property Sale Deed which is presented before a duly authorized government official for its execution.
From the study of above paragraphs, it is evident and drafting of sale deed requires ample attention and presence of mind with sufficient knowledge of property and other related rules and regulations it will be advisable that services of advocates who have immense experience in property transactions should be obtained. This will definitely avoid unnecessary litigations at a later state which may arise in a poorly drafted sale deed.
There are many occasions when a very nice place is available for sale due to some emergent monetary requirements. So, keep a close eye on Land for Sale in Pennsylvania.