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The Agreement of Sale with Possession is a specialized legal instrument used in Indian property transactions where immediate possession of the property is required by the purchaser while the sale process is ongoing. This document type is particularly relevant when the full payment is structured over time or when bank financing is involved, but the purchaser needs to take possession before completing all payments. The agreement must comply with the Transfer of Property Act, 1882, Registration Act, 1908, and other relevant Indian property laws. It includes comprehensive provisions covering both the sale terms and possession conditions, making it more complex than a standard sale agreement. Typically used in both residential and commercial property transactions, this agreement type provides legal security to both parties during the interim period between possession and final sale completion.

1. Parties: Identifies and provides full details of the Seller and Purchaser including names, addresses, and legal capacity

2. Background: Outlines the context of the sale, including brief property description and Seller's ownership rights

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Sale Consideration: Details the total purchase price, payment terms, and schedule of payments

5. Property Details: Comprehensive description of the property being sold including boundaries and measurements

6. Possession: Terms and conditions of immediate possession transfer to the Purchaser

7. Seller's Representations and Warranties: Seller's declarations regarding property title, encumbrances, and legal status

8. Purchaser's Representations and Warranties: Purchaser's declarations regarding financial capacity and compliance with laws

9. Rights and Obligations: Detailed responsibilities of both parties during the possession period

10. Title Documents: List of title documents to be handed over and timeline for the same

11. Expenses and Taxes: Allocation of various transaction costs, stamp duty, and ongoing property taxes

12. Indemnification: Mutual indemnification clauses protecting parties against breaches

13. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant jurisdiction for disputes

14. Notices: Method and addresses for serving notices between parties

15. Execution: Signature blocks and witnessing requirements