Sale Deed is a legal document that lays down the title, ownership, rights and obligations of the seller and purchaser. It is a legal document that lays down the details of the sale of a property including the price at which it is purchased, the manner of payment, details about the property, date on which the possession will be given and the information about the seller and buyer.
A sale deed acts as the evidence that the ownership of the property is transferred from the seller to buyer through sale of such property. It is executed once the final possession of the property is given to the buyer. It is mandatory to register a sale deed for any kind of immovable property by paying the requisite stamp duty and submitting the document with the Registrar having appropriate jurisdiction.
Once the requisite documents are submitted, the property lawyer drafts the sale deed. The stamp duty is paid and the date is fixed for sale deed registration in the Sub-Registrar’s office. The registration fee is paid and the seller and buyer along with 2 witnesses sign the deed in the Registrar’s office. After a week, the registered sale deed can be collected.