The Side By Side Bill of Sale is a fundamental legal document used in India when transferring ownership of significant property items between parties. This document type is particularly important in situations where clear documentation of the sale and transfer of ownership is crucial, such as vehicle sales, equipment transfers, or other valuable movable property transactions. It complies with Indian legal requirements, including the Sale of Goods Act, 1930, and various state-specific regulations. The document includes detailed information about the parties involved, comprehensive property descriptions, sale terms, warranties, and acknowledgments. It's designed to protect both buyer and seller by clearly documenting the transaction terms and transfer of ownership, while also meeting requirements for registration and stamp duty where applicable.
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1. Parties: Identification of the Seller and Buyer with complete details including names, addresses, and any registration numbers if applicable
2. Background: Brief context about the ownership of the property and the intention to sell
3. Definitions: Key terms used in the document including 'Property', 'Purchase Price', 'Completion Date'
4. Property Details: Comprehensive description of the property being sold including make, model, serial numbers, and any distinctive features
5. Consideration: Statement of the purchase price and payment terms
6. Transfer of Ownership: Clear statement transferring all rights, title, and interest in the property from seller to buyer
7. Seller's Warranties: Warranties regarding ownership, right to sell, condition of property, and absence of encumbrances
8. Buyer's Acknowledgments: Confirmation of property inspection and acceptance of condition
9. Completion: Details of when and how the sale will be completed
10. Execution: Signature blocks for parties and witnesses
1. Condition Report: Detailed description of the property's condition - recommended for used items
2. Payment Terms: Include when payment is not made in full at completion
3. Encumbrances: Required if there are any existing loans or liens that need to be discharged
4. Registration Details: Include for vehicles or items requiring registration transfer
5. Maintenance History: Recommended for mechanical items or vehicles
6. Governing Law: Include when parties are from different states within India
1. Schedule 1 - Property Description: Detailed technical specifications and description of the property
2. Schedule 2 - Condition Report: Detailed report of the current condition including photographs
3. Schedule 3 - Payment Schedule: If payment is to be made in installments
4. Appendix A - Registration Documents: Copies of existing registration papers or certificates
5. Appendix B - Maintenance Records: Service history and maintenance documentation
6. Appendix C - Previous Ownership Documents: Documentation proving chain of ownership
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Relevant Teams
Legal
Sales
Procurement
Operations
Asset Management
Commercial
Risk & Compliance
Administrative
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Relevant Roles
Legal Counsel
Sales Manager
Procurement Manager
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Commercial Director
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Operations Manager
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Compliance Officer
Contract Administrator
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