Laws relating to the registration of real estate transactions in India. Once you have a sales agreement, whether registered or not, you are bound to it. The agreement becomes the charter of rights and commitments of the signatories, i.e. the seller and the potential buyer. If one party objects, the other party can appeal by bringing an action in the civil court. Unless the buyer agrees to give you more time after 90 days, you will be obliged to execute the deed of sale in his favor, otherwise he may sue you for a certain service. Although the RERA Act of 2016 provides for a non-fruit clause in Section 89 and applies as a result of the same RERA through the Registration Act 1908. On the other hand, it also raises another question as to whether a sale agreement creates a right, title or interest in the property? If a transfer of ownership is intended for the future and there are terms and conditions, then it is called a sales contract. This is a sale if all the terms and conditions are met or if the transfer time of the property has passed. A deed of sale is made if there is an immediate transfer of ownership. Get to know clearly the differences here.
In general, real estate has a higher value than real estate because it includes sales related to complex procedures. The sale of the property also requires a detailed description and understanding of the entire process and roles of the parties. Therefore, the first step in the sale of real estate is to develop a purchase agreement. In the absence of contrary legislation, an ATS has not been registered in accordance with industry practice with respect to real estate exported both between individuals and between developers and Allottees. As the law did not provide for registration, ATS was also not exposed to the consequences of section 49 of the Registration Act. Therefore, the courts and especially consumers for has, used to make these unregistered ATS effective.