The Acknowledgement Receipt For Full Payment Of Land is a critical document in Indian property transactions that serves as conclusive evidence of complete payment for land transfer. It is typically used after the completion of all payment obligations related to a land purchase, whether made in full or in installments. This document is essential under Indian property law as it prevents future payment disputes and provides clear documentation for both parties. It must comply with various Indian legislations including the Registration Act 1908, Transfer of Property Act 1882, and state-specific property laws. The receipt includes crucial details such as property description, payment amount, payment method, and party information. It's particularly important in India's legal framework where documented proof of payment in property transactions is vital for maintaining clear title records and preventing future litigation.
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1. Receipt Header: Title of document, date, place, and unique reference number if applicable
2. Party Details: Full names, addresses, and legal capacity of both the person acknowledging receipt (seller) and the person who made the payment (buyer)
3. Property Description: Brief description of the land including location, boundaries, and property identification numbers
4. Transaction Reference: Reference to the original sale deed or agreement under which the payment was made
5. Payment Acknowledgment: Clear statement acknowledging receipt of the full payment amount with specific figures in both numbers and words
6. Payment Details: Mode of payment, date received, and any relevant payment instrument details
7. Declaration: Statement confirming that this represents full and final payment with no further claims
8. Execution Block: Signature blocks for parties and witnesses with proper attestation
1. Payment History: Include when there were multiple installments leading to the final payment
2. Tax Declaration: Statement regarding tax implications or TDS deductions if applicable
3. No Dispute Declaration: Additional statement confirming no pending disputes, used when there were previous payment-related issues
4. Power of Attorney Reference: Include when either party is acting through a power of attorney
5. Language Declaration: Statement confirming the receipt has been read and explained in vernacular language, used when parties are not conversant in the document's language
1. Schedule A - Property Details: Detailed description of the property including exact measurements, boundaries, and survey numbers
2. Schedule B - Payment Details: Detailed breakdown of all payments including previous installments if any
3. Appendix 1 - Payment Proof: Copies of cheques, bank transfers, or other payment instruments
4. Appendix 2 - Identity Proof: Copies of identity documents of parties for verification
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