Difference Between Sale Deed And Sale Certificate
In the field of real estate terms ‘sale deed’ and ‘agreement of sale’ are generally used synonymously. However, both these terms are distinctly used for different events. A sale agreement validates the seller and buyer entering into a deal, on the oth er hand a sale deed could be used as an evidence of the transfer of ownership. While buying or selling an immovable property, it is necessary to safeguard the activity through a legal contract. However, the type of contract executed and its terms could differ based on the agreement between the parties. Generally, two types of contracts are used during the sale or purchase of a property - a sale agreement- the property transfer is promised to be on a future date and a sale deed-providing for an immediate transfer of the property rights. Therefore, depending upon the deal held between buyer and the seller, the contract shall be drafted. What is an Agreement of Sale ? An agreement of sale proves the willingness of the parties to ...