The Owner To Owner House Sale Contract is a critical legal document used in Indian real estate transactions where one private owner transfers residential property ownership to another private owner. This document is essential when conducting direct property sales without developer or builder involvement, typically used for resale properties in India. It must comply with the Transfer of Property Act, 1882, Registration Act, 1908, and various state-specific property laws. The contract includes comprehensive details about the property, parties involved, sale consideration, payment terms, warranties, and conditions for transfer. It serves to protect both parties' interests by clearly documenting all aspects of the transaction, including title transfer processes, possession details, and dispute resolution mechanisms. This type of agreement is particularly important in the Indian context where property documentation and clear title transfer are crucial for legal ownership.
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1. Parties: Details of the seller and purchaser including full names, addresses, and PAN numbers
2. Background: Brief context of the sale and current ownership status of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address, dimensions, boundaries, and registration details
5. Sale Consideration: Purchase price, payment terms, and schedule of payments
6. Mode of Payment: Specified methods of payment and banking details
7. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, and legal status
8. Purchaser's Representations and Warranties: Declarations regarding financial capacity and compliance with laws
9. Conditions Precedent: Conditions that must be satisfied before completion of sale
10. Completion of Sale: Process and timeline for executing sale deed and transferring property
11. Possession: Terms and conditions for handling over property possession
12. Expenses: Distribution of transaction costs including stamp duty, registration fees, and taxes
13. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
14. Dispute Resolution: Process for resolving disputes between parties
15. Notices: Method and addresses for sending official communications
1. Broker/Agent Details: Include when a property broker or agent is involved in the transaction
2. Loan and Mortgage: Include when purchaser is obtaining financing for the purchase
3. Property Insurance: Include when specific insurance requirements need to be maintained during transition
4. Existing Tenancy: Include when property has existing tenants and terms of their continuance/termination
5. Renovation/Modification Terms: Include when specific agreements exist regarding property modifications before sale
6. Family Settlement Details: Include when property is subject to family settlement or inherited property
7. Power of Attorney: Include when either party is represented through Power of Attorney
8. Force Majeure: Include when specific provisions for unforeseen circumstances are required
1. Schedule A - Property Description: Detailed property specifications, measurements, and boundaries
2. Schedule B - Title Documents: List of all title documents and chain of title
3. Schedule C - Payment Schedule: Detailed breakdown of payment installments and timelines
4. Schedule D - Encumbrances: List of existing encumbrances, if any
5. Schedule E - Inventory: List of fixtures and fittings included in the sale
6. Appendix 1 - Property Documents: Copies of key property documents including tax receipts and utility bills
7. Appendix 2 - NOCs: Copies of necessary No Objection Certificates
8. Appendix 3 - Property Plans: Architectural plans, layout drawings, and approved building plans
Relevant legal definitions
Agreement
Property
Seller
Purchaser
Completion Date
Completion
Sale Consideration
Earnest Money
Sale Deed
Title Documents
Encumbrances
Force Majeure
Business Day
Bank
Effective Date
Fixtures and Fittings
Legal Requirements
Material Adverse Effect
Parties
Possession
Property Documents
Registration
Representations and Warranties
Stamp Duty
Title
Transfer
Permitted Use
Working Day
Municipal Authority
Occupancy Certificate
Property Tax
Sub-Registrar
Termination
Utility Services
Vacant Possession
Property
Seller
Purchaser
Completion Date
Completion
Sale Consideration
Earnest Money
Sale Deed
Title Documents
Encumbrances
Force Majeure
Business Day
Bank
Effective Date
Fixtures and Fittings
Legal Requirements
Material Adverse Effect
Parties
Possession
Property Documents
Registration
Representations and Warranties
Stamp Duty
Title
Transfer
Permitted Use
Working Day
Municipal Authority
Occupancy Certificate
Property Tax
Sub-Registrar
Termination
Utility Services
Vacant Possession
Clauses
Property Description
Sale Consideration
Payment Terms
Title and Ownership
Representations and Warranties
Conditions Precedent
Due Diligence
Property Inspection
Transfer of Possession
Registration and Stamp Duty
Expenses
Indemnification
Force Majeure
Default and Remedies
Assignment
Insurance
Taxes and Utilities
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment
Notices
Further Assurance
Authority and Capacity
Survival
Time of Essence
Counterparts
Sale Consideration
Payment Terms
Title and Ownership
Representations and Warranties
Conditions Precedent
Due Diligence
Property Inspection
Transfer of Possession
Registration and Stamp Duty
Expenses
Indemnification
Force Majeure
Default and Remedies
Assignment
Insurance
Taxes and Utilities
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment
Notices
Further Assurance
Authority and Capacity
Survival
Time of Essence
Counterparts
Relevant Industries
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Insurance
Urban Development
Housing
Professional Services
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Documentation
Administrative Support
Contract Administration
Asset Management
Operations
Relevant Roles
Real Estate Lawyer
Property Manager
Legal Counsel
Real Estate Agent
Property Broker
Compliance Officer
Legal Administrator
Contract Manager
Property Valuer
Title Officer
Real Estate Analyst
Document Controller
Property Consultant
Risk Manager
Legal Associate
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