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 above definition shows that a purchase agreement contains a promise to transfer the property in question in the future under certain conditions. This agreement itself therefore does not create any rights or interests on the property for the proposed buyer. Any transaction related to the sale of real estate must only be understood by a registered document. The sale is a transfer of ownership in exchange for a part paid or promised or partially paid and promised. The transfer by the sale of items on the value of rupees of more than one hundred or more can be made by a registered instrument. Th… Applying the provisions of Section 88 of the RERA Act 2016, we can verify, in the analysis of the provisions of both provisions, that section 17, paragraph 2(v) of the Registration Act 1908 denies the RERA Act 2016. Therefore, under section 89 of the RERA Act 2016, the provisions of the Registration Act 1908 are not taken into account when registering the sales contract. . 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. 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. A sale agreement is an agreement in which the seller promises to transfer the future ownership of the property to certain conditions. 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.