The Agreement To Sell Real Estate Form is a fundamental document in Indian property transactions, serving as the first formal step in the property transfer process. This document is essential when parties have agreed to a property sale but need time to complete various requirements before executing the final sale deed. It includes crucial details such as property description, agreed price, payment schedule, completion timeline, and obligations of both parties. The agreement, while governed by Indian contract law and property legislation, creates legally enforceable rights and establishes the roadmap for the transaction's completion. It's particularly important as it protects both parties' interests during the interim period between agreement and final sale, and courts in India recognize it as evidence of the parties' intentions and contractual obligations.
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1. Parties: Identification and details of the seller and purchaser, including names, addresses, and legal capacity
2. Background: Context of the transaction, including brief property history and basis for the sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address, boundaries, and registration details
5. Purchase Price: Agreed purchase price, payment schedule, and mode of payment
6. Payment Terms: Detailed structure of payments, including earnest money, installments, and final payment
7. Seller's Representations: Warranties and representations regarding property title, encumbrances, and legal status
8. Purchaser's Representations: Confirmations regarding financial capacity and understanding of property condition
9. Conditions Precedent: Conditions that must be satisfied before completion of sale
10. Completion: Timeline and process for completing the sale transaction
11. Title Documents: List of title documents to be provided and verification process
12. Possession: Terms and conditions for transferring property possession
13. Default and Remedies: Consequences and remedies in case of default by either party
14. Governing Law: Applicable laws and jurisdiction for dispute resolution
15. Notices: Process and addresses for serving notices between parties
1. Mortgage Details: Include when property has existing mortgage or new mortgage is being created
2. Third Party Rights: Include when there are existing tenants or other third-party interests
3. Development Rights: Include for properties with pending development potential or TDR
4. Condition Report: Include when specific property conditions need to be acknowledged
5. Municipal Approvals: Include when property requires specific municipal clearances
6. Power of Attorney: Include when either party is acting through an attorney
7. GST Provisions: Include when transaction is subject to GST
8. Joint Ownership Terms: Include when property is being purchased by multiple buyers
1. Property Schedule: Detailed property description, including exact measurements and boundaries
2. Payment Schedule: Detailed breakdown of payment installments and dates
3. Title Documents List: Comprehensive list of all title and property documents
4. Encumbrance Certificate: Recent encumbrance certificate details
5. Outstanding Dues: List of pending utilities, taxes, or other charges
6. Inventory List: List of fixtures and fittings included in the sale
7. Approved Plans: Copies of approved building plans and sanctions
8. Previous Agreements: Details of any previous agreements affecting the property
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Construction
Property Development
Banking & Finance
Legal Services
Property Management
Urban Development
Infrastructure
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Business Development
Risk Management
Documentation
Operations
Corporate Affairs
Asset Management
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Compliance Officer
Real Estate Broker
Title Officer
Contract Manager
Property Valuer
Real Estate Consultant
Legal Administrator
Business Development Manager
Risk Manager
Documentation Specialist
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