Document background
The Agreement Of Property Sale is a fundamental legal instrument in Indian property law, essential for documenting the terms and conditions of property transfers. This document is required whenever immovable property is being sold in India, whether for residential, commercial, or industrial purposes. It must comply with multiple legislative frameworks, including the Transfer of Property Act 1882, Registration Act 1908, and state-specific property laws. The agreement typically precedes the final sale deed and includes comprehensive details about the property, parties involved, payment terms, and completion obligations. It's particularly important as it creates legally binding obligations and serves as evidence of the intended transfer, protecting both buyer's and seller's interests. The document requires mandatory registration and appropriate stamp duty payment as per state regulations to be legally enforceable.
