AGREEMENT OF SALE AND SALE DEED

Q. WHAT IS THE DIFFERENCE BETWEEN AGREEMENT OF SALE AND SALE DEED? I AM PLANNING TO BUY A PROPERTY BY PAYING A PART AMOUNT INITIALLY AND REMAINING THROUGH BANK LOAN.

A. AGREEMENT OF SALE constitutes the terms and conditions of sale of a property by the seller to the buyer. THESE TERMS AND CONDITIONS INCLUDE THE AMOUNT AT WHICH IT IS TO BE SOLD AND THE FUTURE DATE OF FULL PAYMENT. Being an important document in the sale transaction, it enables the process of sale to go through without any hurdles. All the terms and conditions included in the agreement of sale must be understood thoroughly by both the parties and obeyed throughout the sale process till the time the sale deed is made. Agreement of sale is the base document on which the sale deed is drafted.

SALE DEED is a document executed at the time of finalizing the sale deal. Once the entire amount is paid and property is conveyed sale deed is executed.

About The Initiator Adv. Heena Panjabi

An advocate by profession, with an aim to educate and spread knowledge about the law, Adv. Heena Panjabi came to India after living in Dubai for 18 years, with the zest of studying law and fulfilling her dream of being a legal practitioner. Her main motive of studying law was to work with people and educate them about their legal rights, as ignorance of law is no excuse. She started an initiative 'LAW WISE INDIA' with the main motive of providing information, educating and simplifying different laws, acts, rules and regulations in India.

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