`Any contract of sale (agreement of sale) which is not a registered deed of assignment (deed of sale) would not satisfy the requirements of sections 54 and 55 of the Transfer of Ownership Act and would not confer title or interest in immovable property (with the exception of the limited right granted under section 53A of the Transfer of Ownership Act).` 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. Explicit warranties: An explicit warranty is a confirmation statement by the seller about the quality and characteristics of the goods. An example of an express warranty is an electronics dispenser that tells a customer, “We guarantee your newly purchased TV against defects for three years. If you draw our attention to a defect, we will replace or repair it. However, an explicit warranty can be established even if the seller does not intend to create one. If the sales contract contains a description of the goods on which the buyer relies when purchasing, an explicit guarantee is made that the goods correspond to this description. When the seller makes available to the buyer a model of the goods, an explicit guarantee is made that the goods conform to the model. A written agreement allows both the seller and the buyer to clearly indicate which explicit warranties may apply to the goods. 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. A deed of sale usually consists of the following information: “A contract for the sale of immovable property is a contract that allows the sale of such property under the conditions agreed between the parties” – section 54, section 54, also states: “It does not in itself create interest or calculate this type of property”.
The Supreme Court has also reaffirmed the importance of the sales contract between the contracting authority and the buyer, since it recently decided that the period of allocation of a housing unit to a buyer of a house must be taken into account from the date of the project-buyer contract and not from the date of registration of the project under the Real Estate (Regulation and Development) Act. 2016. The court also ordered the rera authorities to order the payment of compensation by the contracting authority under the contract of sale, the sanctity of which was confirmed by that order. 10. Party No. 1 may not in the future violate any of the terms of this Agreement, failing which Party No. 2 shall have the right to enforce that Agreement by a court having jurisdiction by a legal action for a particular benefit or, in any other way, at the costs, risks and consequences of Part No. 1.