Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. There are also cases where the agreement is concluded in one fiscal year, but the final payment is made in another fiscal year. There was also a significant case with a fitness club in Mumbai that had agreed to sell the property in a given year for an advance of an agreed sum, while the final transfer was due to take place next year on payment of the final amount. Real estate is the assets and assets of a person or group of people. This property can be felt, touched, perceived by the senses and moved from one place to another. It is not related to real estate or land. For example, furniture, computers, jewelry, wardrobe, items, etc. The deed of sale is the most important legal document by which a seller transfers his right of ownership to the buyer, who then acquires the absolute ownership of the property. There are a large number of projects in progress in which the developer may have asked the buyer for more than 10% of the cost of the property under the ATS and may have been donated by him, which were (in the absence of requirement) and are still not registered. The marshalling rule does not apply between two buyers, but if one of the two mortgaged properties is sold to a buyer without a mortgage. And secondly, is sold to another buyer subject to the mortgage, the first buyer can marshal and demand that the mortgage against the property in the hands of the second buyer. Signing a purchase agreement becomes important given several factors.
First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. Intangible property is a personal property. It cannot be moved or touched or felt from one place to another. There is no physical presence. Intangible property can take the form of creations of human intellects known as intellectual property, such as trademarks, copyrights, patents. They are neither tangible nor visible. In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS. In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b).
An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required. (a) rents and profits of the property until the property is transferred to the buyer; Any power of attorney, including a general or special power of attorney, begins with a brief recognition of ownership and description of ownership and declaration of intent to sell them.