Why is deed of sale necessary?

A sale deed is the most crucial document of your housing deal. It is the document that you need to provide as proof of ownership. Also, any pending impediments, such as property tax, water and electricity charges and so on, needs to be paid in full before the sale deed is formatted.

Can you get mortgage without sale deed?

If you are looking for a home loan, you will need to submit your Sale Deed. Without having an original sale deed, it is almost impossible to purchase or sell any land or do any construction on it. After repaying the loan amount, the lender returns your Sale Deed.

Can sale deed 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.

Can I sell my house if I have lost my deeds?

In short, yes you can sell your house without the deeds, however you must be able to prove through other means that you are the owner of the property. As the deeds are the assortment of documents which usually prove ownership, proving it without them can be a more protracted process, but it is by no means impossible.

What happens if sale deed is not registered?

If the sale deed not registered then it doesnot have a validity. Though it can be taken as evidence under section 49 of Registration Act as a proof of valid contract. If the son is not agreeing file a declaration suit in civil court for declaring title of the land.

What happens if we lose sale deed?

Lodge an FIR: It is true if you lose anything, first go to the police station in your area. Lodge an FIR (first information report) with the police there, giving all the details of the property. In case the police are not able to trace your lost sale deed, they would issue you a non-traceable certificate.

What is the limitation period for cancellation of sale deed?

The period of limitation for a suit seeking a relief of cancellation of sale deed is three years, which commences from the date when the right to sue first accrues.”

What do you need to know about a sale deed?

A sale deed is an important legal document because it conveys the ownership from seller to the buyer. To understand the sale deed better, you first need to understand the complete process of sale of a property. Watch this video to understand the sale deed and the complete registration procedure of a property.

What is the purpose of a deed of ownership?

The deed provides proof of ownership and transfers the title to you regardless of who owned the property before you. In addition, this deed serves as a statement that there are no liens against the property from a mortgage lender, the Internal Revenue Service or any creditor, and that the property can’t be claimed by anyone else.

Can a property be sold without a proper sale deed?

So, if you have purchased any property under any agreement for sale, without it being followed by a proper sale deed, you do not get any right or interest in the property purported to be transferred under the agreement of sale. This absolute rule is subject to the exception provided under Section 53A of the Transfer of Property Act.

What is a a clause in a sale deed?

A clause in the sale deed must bear the information that the possession of the property shall be transferred to the buyer by the seller after completion of the registration process. The sale deed should state the actual date of delivery of possession.