What if a property sale agreement is not registered?
The sale agreement need not to be registered. Many often confuse between sale agreement and sale deed. Sale agreement doesn’t convey the ownership, it just contains the terms & conditions of a sale of property. It is just the security that both seller and buyer adhere to the terms and conditions mentioned in the agreement, to sell in the future date. In fact, It is possible to register the sale deed directly without even executing the sale agreement. subject to self-financing and trust between the seller & buyer. For home loan, it is mandatory to execute a sale agreement and frank the sale agreement. Sale agreement need not to be registered for home loan application. Just the agreement execution and franking suffice for the home loan application. A franked sale agreement looks like the below image, Franked sale agreement can be challenged in a court of law. In Bangalore, we provide the service of sale agreement drafting + execution + franking + home delivery. To opt...