The Agreement to Sell Property is a crucial document in Indian real estate transactions, serving as a binding commitment between parties before the execution of the final sale deed. This agreement is essential when parties have agreed on the basic terms of a property sale but need time to fulfill various conditions or complete payment installments. It is governed by the Transfer of Property Act, 1882, the Indian Contract Act, 1872, and various state-specific property laws. The document typically includes comprehensive details about the property, parties involved, sale consideration, payment terms, completion timeline, and various representations and warranties. It offers legal protection to both parties during the interim period between agreement and final sale, and can be enforced through specific performance under the Specific Relief Act, 1963.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
1. Parties: Details of the seller and purchaser including names, addresses, and legal capacity to contract
2. Background: Context of the transaction, brief property introduction, and intention of parties to enter into agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property being sold including its location, boundaries, and area
5. Sale Consideration: Total sale price, payment structure, and payment methods
6. Payment Terms: Detailed breakdown of payment schedule, installments, and due dates
7. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, legal compliance, and seller's authority to sell
8. Purchaser's Representations and Warranties: Declarations regarding purchaser's capacity and ability to complete the transaction
9. Conditions Precedent: Conditions that must be fulfilled before the sale can be completed
10. Covenants: Obligations of both parties until completion of sale
11. Completion: Process and requirements for completing the sale
12. Default and Consequences: Events of default and remedies available to parties
13. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
14. Notices: Method and addresses for serving notices between parties
15. Force Majeure: Provisions for unforeseen circumstances preventing performance
16. Dispute Resolution: Process for resolving disputes between parties
1. Third Party Rights: Required when there are existing tenants or other third-party interests in the property
2. Mortgage/Charge: Needed when the property has existing mortgages or charges that need to be cleared
3. Power of Attorney: Required when either party is acting through an authorized representative
4. Joint Ownership Provisions: Needed when the property is being purchased by multiple buyers
5. Development Rights: Required when the property includes unused development potential or TDR
6. Compliance with Foreign Exchange Laws: Needed when either party is an NRI or foreign national
7. GST Provisions: Required for properties where GST is applicable
1. Schedule 1 - Property Description: Detailed description of the property including exact measurements, boundaries, and features
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments with dates and amounts
3. Schedule 3 - Title Documents: List of all title documents and their copies
4. Schedule 4 - Encumbrances: List of existing encumbrances, if any
5. Schedule 5 - Approvals and Permissions: List of required governmental and regulatory approvals
6. Schedule 6 - Property Documents: List of property tax receipts, utility bills, and other relevant documents
7. Appendix A - Site Plan: Property layout and site plan
8. Appendix B - Property Photos: Recent photographs of the property
Authors
Find the document you need
No items found.
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
