What is a sale deed?
A sale deed may be a legal instrument that proves that the vendor has transferred absolutely the ownership of the property to the purchaser. Through this document, the rights and interests in property are acquired by the new owner. a purchase deed usually consists of the subsequent information-
- Details of the buyers and sellers (name, age and addresses)
- Property description (total area, details of construction, the precise address and surroundings)
- Sale amount including advance payment paid also because the mode of payment
- Time frame when the property title is going to be actually passed to the customer.
- Actual date of delivery of possession.
- Indemnity clause (The seller promises to pay the customer for any damages just in case of disputes with reference to the ownership, leading to monetary losses to the buyer)