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| Sale Agreement of Property |
If you wish to sell or
purchase any property, besides writing down a Sale Deed, you would also need to
write a Sale Agreement.
Sale Agreement of property is something different from Sale Deed of a property. Sale Agreement in urdu is called Iqrar Nama Bayi (اقرار نامہ بیع). However, Sale Deed in urdu is called Bainama (بیع نامہ).
Usually, a Sale Agreement is written at the time of making a deal of sale/purchase of a property. Sale Agreement is of utmost importance which contains various information like name of seller, name of purchaser, description of property being sold, total price of property agreed between the parties, amount of earnest money (زر بیعانہ), and clause about possession of property (delivered to purchaser or not), and the date, on which, remaining amount is agreed to be paid by the purchaser to seller and transfer of property by seller in favour of purchaser on date so fixed. Besides, many other clauses can also be written as per mutual understanding of the parties.
Be noted, just by writing a
However, if on the fixed date, the
seller does not transfer the property in favour of purchaser, the purchaser on
the basis of Sale Agreement, can approach to
Although, a Sale Agreement is not a proof of ownership of the property but still its have very much importance because the courts decide the cases of such nature on the basis of clauses mentioned in the sale agreement. So, Sale Agreement should be drafted carefully or cause it to be drafted by a lawyer or professional to void future complications. The terms and conditions of an Agreement to Sell of a property should be very much clear and not ambiguous.
To become an owner, Sale Deed (بیع نامہ ) must be written and
same must also be registered in the
office of Sub Registrar by paying the applicable fee/ and taxes.
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Format of Sale Deed of property
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registration of sale Deed of property