The Contract to Sell Form is a fundamental document in Indian property transactions, essential when parties agree to a future sale of property but need to establish terms and conditions before executing the final sale deed. This document is governed by Indian contract and property laws, particularly the Indian Contract Act 1872 and Transfer of Property Act 1882. It's commonly used when there are conditions to be fulfilled before the final sale, such as payment installments, property inspection, or title clearance. The document typically includes comprehensive details about the property, parties involved, consideration amount, payment schedule, and completion timeline. It provides legal protection to both parties by clearly defining their rights and obligations during the transaction process.
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1. Parties: Identifies and provides full details of the seller and buyer, including names, addresses, and legal capacity
2. Background: Establishes the context of the sale and the seller's ownership/right to sell the property
3. Definitions: Defines key terms used throughout the agreement for clarity and precision
4. Property Details: Comprehensive description of the property being sold, including location, boundaries, and measurements
5. Sale Consideration: Specifies the agreed purchase price and payment terms, including installment schedule if applicable
6. Payment Terms: Details the mode, timing, and conditions of payment
7. Possession: Specifies when and how possession will be transferred to the buyer
8. Title and Encumbrances: Declarations regarding property title clearance and existing encumbrances
9. Seller's Representations: Warranties and representations made by the seller regarding the property
10. Buyer's Representations: Confirmations and undertakings by the buyer
11. Completion: Details of the completion process and timeline
12. Default and Remedies: Consequences of default by either party and available remedies
13. Governing Law: Specifies Indian law as governing law and jurisdiction details
14. Execution: Signature blocks and execution formalities
1. Force Majeure: Include when parties want to address unforeseen circumstances that may affect contract performance
2. Assignment: Include when transfer of rights under the agreement needs to be addressed
3. Broker/Agent: Include when a broker or agent is involved in the transaction
4. Development Rights: Include for properties with unused development potential or TDR
5. Existing Tenancies: Include when the property has existing tenants
6. Joint Ownership: Include when the property will be purchased by multiple buyers
7. Loan/Mortgage: Include when the purchase involves bank financing
1. Property Schedule: Detailed property description, including floor plans and measurements
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Title Documents: List of title documents and their copies
4. Encumbrance Certificate: Recent encumbrance certificate details
5. Property Tax Records: Details of property tax payments and outstanding dues
6. Approvals and Permissions: List of relevant governmental approvals and permissions
7. Property Photographs: Current photographs of the property and its features
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Commercial Property
Residential Property
Industrial Property
Agricultural Property
Retail Property
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Business Development
Risk Management
Asset Management
Operations
Finance
Sales
Relevant Roles
Legal Counsel
Property Lawyer
Real Estate Manager
Property Developer
Compliance Officer
Contract Manager
Real Estate Agent
Property Consultant
Title Officer
Property Valuation Expert
Business Development Manager
Asset Manager
Property Portfolio Manager
Risk Manager
Legal Associate
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