The Deed of Sale with Assume Balance is a specialized legal instrument used in Indian real estate transactions where the buyer agrees to take over the seller's outstanding loan obligations as part of the property purchase. This document type is particularly useful in situations where the seller has an existing mortgage or loan against the property, and the buyer prefers to continue the loan rather than arrange new financing. The deed must comply with the Transfer of Property Act 1882, Registration Act 1908, and relevant state-specific property laws. It typically includes detailed information about the property, the outstanding loan amount, terms of assumption, and specific conditions set by the original lender. This arrangement can be advantageous when interest rates on the existing loan are favorable or when the buyer wants to avoid the complexity and costs of new loan origination.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identification of the Seller, Buyer, and existing Lender (if applicable)
2. Background: Context of the sale, including current ownership status and existing loan/balance details
3. Definitions: Key terms used throughout the deed including Property, Assumed Balance, Settlement Date, etc.
4. Property Description: Detailed description of the property being sold, including boundaries and registration details
5. Sale Consideration: Details of the total purchase price, including direct payment and assumed balance components
6. Assumption of Balance: Terms and conditions of the balance being assumed, including amount, payment schedule, and interest rate
7. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, and existing loan status
8. Buyer's Undertakings: Commitments regarding assumption of balance and future payment obligations
9. Transfer Mechanics: Process and timing of property transfer and balance assumption
10. Registration and Stamp Duty: Requirements and responsibilities for deed registration and stamp duty payment
11. Possession: Terms regarding the handover of property possession
12. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
1. Lender's Consent: Required when the existing lender must formally approve the assumption of balance
2. Insurance: Include when specific insurance requirements are tied to the assumed balance
3. Property Tax Arrangements: Include when there are specific arrangements for handling outstanding or future property taxes
4. Maintenance Charges: Required for properties in managed communities with maintenance obligations
5. Default and Remedies: Detailed section needed when parties want specific remedies beyond standard legal provisions
6. Third-Party Claims: Include when there are potential third-party interests or claims on the property
7. Broker's Commission: Required when real estate agents are involved in the transaction
1. Property Details Schedule: Detailed property specifications, including floor plan, boundaries, and fixtures
2. Payment Schedule: Detailed breakdown of assumed balance payment structure and timeline
3. Outstanding Loan Details: Complete information about the loan being assumed, including original terms
4. Title Documents: List of all title and ownership documents being transferred
5. Encumbrance Certificate: Recent encumbrance certificate showing property's legal status
6. Property Tax Records: Statement of current and outstanding property taxes
7. Lender's Consent Documentation: Written approval from lender for balance assumption, if applicable
8. Property Inspection Report: Current condition report of the property
Relevant legal definitions
Agreement
Assumed Balance
Closing Date
Commencement Date
Completion
Default
Effective Date
Encumbrances
Existing Loan
Fixtures and Fittings
Governing Law
Lender
Loan Agreement
Loan Documents
Original Borrower
Outstanding Amount
Parties
Payment Schedule
Permitted Encumbrances
Possession Date
Property
Purchase Price
Registration
Registration Authority
Repayment Terms
Sale Consideration
Schedule of Property
Seller's Warranties
Settlement Date
Stamp Duty
Title Deeds
Transfer Date
Transferee
Transferor
Valuation Report
Assumed Balance
Closing Date
Commencement Date
Completion
Default
Effective Date
Encumbrances
Existing Loan
Fixtures and Fittings
Governing Law
Lender
Loan Agreement
Loan Documents
Original Borrower
Outstanding Amount
Parties
Payment Schedule
Permitted Encumbrances
Possession Date
Property
Purchase Price
Registration
Registration Authority
Repayment Terms
Sale Consideration
Schedule of Property
Seller's Warranties
Settlement Date
Stamp Duty
Title Deeds
Transfer Date
Transferee
Transferor
Valuation Report
Clauses
Sale and Purchase
Property Description
Consideration
Balance Assumption
Payment Terms
Title Transfer
Representations and Warranties
Possession
Property Condition
Encumbrances
Registration and Stamp Duty
Default and Remedies
Risk Transfer
Insurance
Property Tax
Indemnification
Force Majeure
Notices
Assignment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Costs and Expenses
Further Assurance
Succession
Compliance with Laws
Lender's Rights
Amendment
Counterparts
Property Description
Consideration
Balance Assumption
Payment Terms
Title Transfer
Representations and Warranties
Possession
Property Condition
Encumbrances
Registration and Stamp Duty
Default and Remedies
Risk Transfer
Insurance
Property Tax
Indemnification
Force Majeure
Notices
Assignment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Costs and Expenses
Further Assurance
Succession
Compliance with Laws
Lender's Rights
Amendment
Counterparts
Relevant Industries
Real Estate
Banking and Financial Services
Legal Services
Property Development
Construction
Housing Finance
Property Management
Mortgage Services
Real Estate Investment
Relevant Teams
Legal
Real Estate Operations
Property Management
Mortgage Services
Compliance
Documentation
Risk Assessment
Property Valuation
Title Research
Loan Processing
Relevant Roles
Real Estate Lawyer
Property Manager
Mortgage Officer
Real Estate Agent
Property Developer
Legal Counsel
Compliance Officer
Banking Manager
Property Valuation Expert
Title Officer
Real Estate Investment Manager
Documentation Specialist
Property Registration Officer
Loan Officer
Find the exact document you need
Land For Sale Land Contract
An Indian law-governed agreement for the sale and transfer of land property, detailing terms of sale, property specifications, and transfer conditions.
find out more
Deed Of Sale For Property
A legally binding document under Indian law that transfers property ownership from seller to buyer, requiring official registration and stamp duty payment.
find out more
Contract Of Sale Of Immovable Property
An Indian law-governed agreement documenting the sale and transfer of immovable property between parties, requiring official registration.
find out more
Agreement For Sale Of Flat In Co Operative Housing Society
An Indian legal agreement for the sale and transfer of flat ownership and membership rights in a cooperative housing society, compliant with Indian property and cooperative society laws.
find out more
Agreement Between Buyer And Seller Of Goods
An Indian law-governed agreement establishing terms and conditions for the sale and purchase of goods between parties, aligned with the Sale of Goods Act and Contract Act.
find out more
Sales Agreement Between Two Parties
An Indian law-governed agreement establishing terms and conditions for the sale of goods between two parties, ensuring legal compliance and protecting both parties' interests.
find out more
Sale Agreement Of Immovable Property
An Indian law-compliant agreement documenting the terms and conditions for the sale and transfer of immovable property between parties.
find out more
Contract To Sell
An Indian law-governed agreement establishing future sale obligations between parties, with terms for property/asset transfer and payment conditions.
find out more
Farm Purchase Agreement
An Indian law-governed agreement for the purchase and sale of agricultural land, ensuring compliance with agricultural laws and land regulations.
find out more
Sales Employee Contract
An Indian law-governed employment contract for sales professionals defining employment terms, compensation structure, and sales-related obligations.
find out more
Harmless Agreement
An Indian law-governed agreement where one party agrees to protect another from liability for specific risks and losses, structured under the Indian Contract Act, 1872.
find out more
For Sale By Owner Purchase Contract
An Indian legal document for direct property sales between seller and buyer without real estate agent involvement, compliant with Indian property laws.
find out more
Form For Sale Of Vehicle
A standardized agreement for vehicle sale and ownership transfer in India, compliant with the Motor Vehicles Act and state regulations.
find out more
Used Equipment Sales Agreement
An Indian law-governed agreement for the sale and purchase of used equipment, covering equipment condition, warranties, and transfer of ownership.
find out more
Product Contract
An Indian law-governed agreement establishing terms and conditions for product sale and purchase, including specifications, pricing, and delivery terms.
find out more
Business Buy Sell Agreement
An Indian law-governed agreement detailing terms and conditions for the sale and purchase of a business enterprise, including price, warranties, and completion mechanics.
find out more
Vehicle Purchase Form
An Indian law-compliant document that formalizes vehicle purchase transactions and ownership transfer, adhering to the Motor Vehicles Act and state regulations.
find out more
Lease To Purchase Contract
An Indian law-governed agreement combining property lease terms with a future purchase option, ensuring compliance with national and state property laws.
find out more
Registered Lease Deed
A legally binding and registered document under Indian law that establishes the terms and conditions for leasing property between landlord and tenant.
find out more
Deed Of Sale Condominium
A legal instrument under Indian law that transfers ownership of a condominium unit from seller to buyer, including rights to common areas and society membership.
find out more
Definitive Purchase Agreement
An Indian law-governed agreement detailing the final terms and conditions for the purchase and sale of assets, goods, or business interests.
find out more
Sales Agency Agreement
An Indian law-governed agreement establishing terms between a principal company and sales agent, including territory rights, commissions, and mutual obligations.
find out more
Furniture Sale Agreement
An Indian law-governed agreement setting out terms and conditions for furniture sale and purchase, including specifications, pricing, delivery, and warranty terms.
find out more
Sales Rep Contract
An Indian law-governed agreement establishing terms between a company and sales representative, covering appointment, duties, compensation, and obligations.
find out more
Export Sale Contract
An Indian law-governed contract establishing terms for international sale and export of goods from India to foreign buyers, incorporating both domestic and international trade requirements.
find out more
Deed Of Sale Motor Vehicle
An Indian law-compliant deed that documents the transfer of ownership of a motor vehicle between parties, including sale terms and vehicle specifications.
find out more
Contract To Sell Motor Vehicle
An Indian law-compliant agreement for the sale and transfer of ownership of a motor vehicle, detailing vehicle specifications, price, and transfer terms.
find out more
Sell By Owner Contract
An Indian legal document for direct property sales between seller and buyer without real estate agent involvement, governed by Indian property law.
find out more
Restaurant Sale Agreement
An Indian law-governed agreement for the transfer of restaurant business ownership, covering all assets, licenses, and operational rights from seller to buyer.
find out more
Manufactured Home Purchase Agreement
An Indian law-governed agreement for the purchase and sale of manufactured homes, covering sale terms, specifications, delivery, installation, and warranties.
find out more
Deed Of Sale With Assume Balance
An Indian legal document facilitating property sale where the buyer assumes the seller's existing loan balance, governed by Indian property and contract laws.
find out more
Deed Of Sale Of Motor Vehicle Form
An Indian legal document that formalizes the transfer of ownership of a motor vehicle between parties, complying with Motor Vehicles Act requirements.
find out more
Buy Sell Agreement For Small Business
An Indian law-governed agreement detailing the terms and conditions for the sale and purchase of a small business, including all essential transaction elements and regulatory compliance requirements.
find out more
Lease Option Property For Sale
An Indian law-governed agreement combining a property lease with an option to purchase, establishing terms for both leasing and the future sale of the property.
find out more
Simple Land Sale Agreement Word Document
An Indian law-compliant agreement documenting the terms and conditions for the sale and transfer of land ownership between parties.
find out more
Assignable Purchase And Sale Agreement
An Indian law-governed agreement for the sale and purchase of assets or property, featuring assignability rights for the purchaser.
find out more
Conditional Sales Purchase Agreement
An Indian law-governed agreement establishing a conditional sale where the seller retains title until specified conditions are met by the purchaser.
find out more
House For Sale On Contract
An Indian law-compliant agreement for the sale and purchase of residential property, detailing terms of transfer, payment, and obligations of parties involved.
find out more
Agreement For Sale Without Possession
An Indian legal document facilitating property sale while allowing the seller to retain physical possession, governed by Indian property law.
find out more
Flat Purchase Agreement
An Indian law-compliant agreement for the purchase and sale of residential flats/apartments, governed by RERA and property laws.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are 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
.png)
.png)