The Private House Sale Contract is a crucial legal document used in India for transferring residential property ownership between private parties. It's essential when selling or purchasing residential property through private transaction, as opposed to developer sales or commercial properties. The document must comply with various Indian legislations including the Transfer of Property Act, Registration Act, and state-specific property laws. It typically includes comprehensive details about the property, parties involved, payment terms, warranties, and transfer process. This contract type is particularly important in India's real estate market where private property transactions require robust documentation to ensure legal compliance and protect both parties' interests. The document serves as evidence of the transaction terms and is required for property registration with local authorities.
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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 property ownership history
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.
4. Sale Agreement: Core agreement to sell and purchase the property at the specified price
5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and mode of payment
6. Completion: Timeline and process for completing the sale, including handover requirements
7. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, disputes, and compliance with laws
8. Property Inspection and Condition: Current state of the property and any agreed repairs or modifications
9. Title and Transfer: Process of transferring clear title and registration requirements
10. Expenses and Taxes: Allocation of costs including stamp duty, registration fees, and other expenses
11. Default and Remedies: Consequences of breach and available remedies to either party
12. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction over disputes
1. Mortgage or Financing: Include when purchase involves bank financing or existing mortgage
2. Power of Attorney: Required when either party is acting through an authorized representative
3. Society NOC: Needed for properties in housing societies or apartments
4. Possession Terms: Special conditions regarding possession if delayed or phased handover
5. Rental Terms: Include if property is currently tenanted
6. Foreign Exchange Compliance: Required when either party is an NRI or foreign national
7. Property Management: Interim arrangements for property maintenance until completion
8. Force Majeure: Include specific provisions for unforeseen circumstances affecting completion
1. Schedule 1 - Property Description: Detailed description of property including boundaries, measurements, and built-up area
2. Schedule 2 - Title Documents: List of all title documents and chain of ownership
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment installments and timelines
4. Schedule 4 - Fixtures and Fittings: Inventory of items included/excluded in the sale
5. Schedule 5 - Outstanding Liabilities: List of pending dues, taxes, or charges on the property
6. Appendix A - Property Photos: Current photographs of the property and its condition
7. Appendix B - Approved Plans: Copies of approved building plans and permits
8. Appendix C - Encumbrance Certificate: Recent encumbrance certificate from registrar's office
Relevant legal definitions
Agreement
Property
Seller
Purchaser
Purchase Price
Completion Date
Completion
Deposit
Title Deeds
Encumbrances
Property Documents
Fixtures and Fittings
Built-up Area
Carpet Area
Possession
Transfer Deed
Sale Deed
Stamp Duty
Registration Fees
Consideration
Business Day
Force Majeure Event
Defect in Title
Existing Encumbrance
Permitted Encumbrance
Property Tax
Municipal Authority
Sub-Registrar
Chain of Title
Occupancy Certificate
Society
Maintenance Charges
Outstanding Dues
Material Breach
Notice
Earnest Money
Balance Consideration
Representation and Warranty
Applicable Law
Competent Authority
Property
Seller
Purchaser
Purchase Price
Completion Date
Completion
Deposit
Title Deeds
Encumbrances
Property Documents
Fixtures and Fittings
Built-up Area
Carpet Area
Possession
Transfer Deed
Sale Deed
Stamp Duty
Registration Fees
Consideration
Business Day
Force Majeure Event
Defect in Title
Existing Encumbrance
Permitted Encumbrance
Property Tax
Municipal Authority
Sub-Registrar
Chain of Title
Occupancy Certificate
Society
Maintenance Charges
Outstanding Dues
Material Breach
Notice
Earnest Money
Balance Consideration
Representation and Warranty
Applicable Law
Competent Authority
Clauses
Sale and Purchase
Property Description
Consideration
Payment Terms
Title and Transfer
Representations and Warranties
Property Inspection
Condition Precedent
Completion
Possession
Encumbrances
Due Diligence
Registration and Stamp Duty
Taxes and Expenses
Insurance
Default and Remedies
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Severability
Entire Agreement
Amendment
Indemnification
Confidentiality
Time of Essence
Further Assurance
Survival
Third Party Rights
Property Description
Consideration
Payment Terms
Title and Transfer
Representations and Warranties
Property Inspection
Condition Precedent
Completion
Possession
Encumbrances
Due Diligence
Registration and Stamp Duty
Taxes and Expenses
Insurance
Default and Remedies
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Severability
Entire Agreement
Amendment
Indemnification
Confidentiality
Time of Essence
Further Assurance
Survival
Third Party Rights
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Property Management
Insurance
Urban Planning
Property Investment
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Documentation
Finance
Risk Management
Operations
Customer Relations
Research
Relevant Roles
Real Estate Lawyer
Property Agent
Legal Counsel
Conveyancing Manager
Property Manager
Real Estate Consultant
Mortgage Advisor
Legal Document Specialist
Property Valuation Expert
Compliance Officer
Real Estate Transaction Manager
Title Research Specialist
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