Remember here that both parties must comply with the conditions set out in the sales contract. Any party that fails to comply with any of the conditions set out in the agreement may be brought before the courts if the other party so wishes. All parties concerned should also ensure that this document can be invoked as legal evidence before the courts of the law and that all those who have agreed to comply with the conditions are legally bound by it. 9. Party 1 does not preclude Party 2 from transferring to another person or causing the sale to be made on his or her behalf or on behalf of his or her applicant. IMPORTANT: This is only a format of the proposed purchase agreement, for your specific requirements you can contact us for online creation based on your entries. 12. Part No. 1 also exercised a general power in respect of the above-mentioned apartment in order to complete the sale in their favour or in favour of its candidate after the registration of the deed of transfer of the apartment in question. In 2012, in the case of Suraj Lamp & Industries (P) Ltd (2) v. the State of Haryana, while dealing with the validity of sales of real estate made by proxy, the Supreme Court of India ruled as follows: in cases where you have purchased and held real estate under a contract of sale, title to the property remains in the hands of the developer, unless a certificate of sale has been executed retrospectively and registered under the Indian Registration Act. Thus, it is clear that a title to immovable property can only be transferred by a deed of sale. In the absence of a duly stamped and registered deed of sale, the buyer of the property does not have the right, title or interest in a property.
What the sales contract creates is a right for the buyer to buy the property in question under certain conditions. Likewise, the seller obtains the right to obtain the consideration of the buyer if his part of the general conditions of sale is respected. 14. That Party No. 1 accepts that this contract of sale remains irrevocable and that Party No. 1 does not revoke or terminate it in any future. A sales document is a document that proves that the seller has transferred absolute ownership of the property to the buyer. Through this document, the rights and shares of ownership are acquired by the new owner.