What is sale deed?
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A sale deed, also known as a deed of conveyance or deed of sale, is a legal document that transfers ownership of a property from one party to another. It is a crucial document in real estate transactions and serves as evidence of the transfer of property rights.
A sale deed typically includes details such as:
1. Names and addresses of the buyer (transferee) and seller (transferor).
2. Description of the property being transferred, including its location and boundaries.
3. Sale price or consideration paid for the property.
4. Terms and conditions of the sale, including any warranties or guarantees.
5. Signatures of both the buyer and seller, as well as witnesses.
6. Date of the sale.
Once the sale deed is executed and registered with the appropriate government authority, the transfer of ownership of the property is considered legally binding. The buyer becomes the rightful owner of the property, and the seller relinquishes all rights and interests in the property.
A sale deed is a legal document that formally transfers property title from the seller to the buyer. It is also known as a conveyance deed or a property sale deed. It serves as definitive proof of the property’s sale and acquisition, including the terms and circumstances of the deal.