What do you do with old sale deeds?

Or show sale deed,

1. you can file a suit in the city civil court seeking direction to the members of public to not deal with the misplaced original document if found.
2. for a declaration that the original document between the builder and 1st owner is lost and/or misplaced.

Who keeps original sale deed?

The buyer holds the legal rights of the property. A sale deed is registered in accordance with the Registration Act, 1908.

How long is sale deed valid?

33 Answers. sale deed remains valid from the date of its execution there is no time limit for the same. This sale is meaningless and the transfer of this property by your father to this fellow is not a valid transfer at all.

What happens if I lose my house deeds?

You may apply for first registration of land if the title deeds have been lost or destroyed. It is often more important to prove who held the deeds prior to their loss or destruction than to establish what they contained.

What happens once a property is sold?

On settlement day, the seller receives the money owed, the legal transfer of the property from seller to buyer is done, and the buyer is given the keys to the property. Once the deal is complete, the agent will invoice the seller the amount due, with fees based on the final sale price.

Who keeps the original signed contract?

Keep an Original Signed Copy of the Contract in Your Files That means if there are two parties to the contract, two identical contracts must be signed. One original copy of the contract should go to you, and one original copy should go to the other party.

Who can be witness in sale deed?

The executed sale deed should be witnessed by at least two witnesses one from seller side and one from buyer side, giving their full names, addresses and signatures.

How sale deed can be Cancelled?

It is possible to cancel the registration of your conveyance or title deeds (sale, gift, exchange, transfer) by registering a cancellation deed. It cancels the property transfer that had taken place from the buyer to the seller. It must be signed by both, the buyer and the seller.

What happens to a warranty deed when you sell a house?

However, when you sell your property, your mortgage is often paid off with the proceeds of the sale, and may even transfer to a new property that you purchase. This is part of the covenant to convey free of encumbrances. A general warranty deed also includes several other covenants that are built into the guarantee.

Do you need a sale deed when buying a house?

Unless the seller has sale deed there remains a cloud on his ownership. Purchasing such a property is riddled with the risk of being enmeshed in litigation. 2. At the time of purchasing the property one should insist on the original sale deed of the property so that due diligence may be carried out.

What happens after the execution of a sale deed?

Once the process of executing the sale deed is completed, the ownership in the property gets transferred to the buyer. The buyer gets absolute right over the property, and he gets the title of ownership. Date of execution of deed with registered deed number, serial number, book number, page number etc.

What happens if the seller does not possess the sale deed?

3. A property cannot be registered if the seller does not possess the sale deed thereof. No other deed or displaying of the name in the encumbrance certificate can take the place of the sale deed.