While in an agreement to be sold, the seller will have to pay for the loss, since the ownership of the goods has not been transferred to the buyer. In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale. In the absence of a deed of sale duly stamped and registered, no right, property or interest for a property, the buyer of the property. Type of contract: the purchase is a contract executed, i.e. one of the parties has already fulfilled its part of the contract. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. Indian Contracts Act of 1872. The seller and buyer must be two different people. If the seller returns from the contract, the buyer can claim damages for breach.
On the other hand, the unpaid seller can also sue the buyer for damages. The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the owner-buyer agreement and not from the date of registration of the project under the Real Estate Act (regulation and development). , 2016. The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. The sale and the sales contract are types of contracts, the first being an executed contract, while the second is a contract of execution. Many law students are confused in the middle of these two terms, but they are not the same. Here, in the article below, we explained the difference between the sale and the agreement for sale, check. The sale contract may or may not lead to an effective sale of the property in question. Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport record, as well as a proper transport record, are subject to the same stamp duty as the one in force for the proper sale of a property. Under these provisions, which require the payment of stamp duty on a sales contract, a sale agreement is wrongly considered a good act of sale. In the sale agreement, the parties agree to exchange the goods for a price that depends on compliance with certain conditions at a later date. One of the founding concepts of the Sale of Goods Act of 1930 was the sale and a sales agreement.