Understanding Different Types of Property Transactions

Read Time:-2 Min

When it comes to property transactions, several factors need to be considered; each comes with specific rules and paperwork. Here's a simple guide to help you understand them:

Types of Property Transactions

Sale Deed

A sale deed is a document that records a property's ownership.It proves the buyer owns the property and has legal rights to it. The property should be free from legal disputes or issues.

Gift Deed

A gift deed transfers property ownership as a gift, with no money involved. The recipient becomes the owner, and the giver gives up all rights to the property. The giver must own the property and must give it voluntarily, without pressure.

Mortgage Deed

It is used when a property is provided as security for a loan. The borrower must own the property and agree to the mortgage terms.


Rights and Responsibilities of Buyers and Sellers
Buyers

Rights: Buyers have the right to know the property details, which include clear titles and accurate condition details. They also have the right to know the legal status of the property and its registration under their name.

Responsibilities: The buyers are responsible for verifying the seller's ownership and legal status of the property.

Sellers

Rights:

Sellers are entitled to receive the agreed payment for the property and can expect the buyer to meet their responsibilities as outlined in the sale deed.

Responsibilities

Sellers are responsible for providing accurate information about the property, including disclosing any encumbrances, ensuring a clear title, and coordinating with buyers on registration requirements.

 

For more insights and updates, follow us to stay informed and ahead in your property journey.



Join The Discussion

Related posts
The Role of Water Bodies and Roads in Vastu Shastra for Plots

Vastu Shastra, which is the ancient Indian architecture science, focuses on the role of natural elements and their positioning in controlling the energy flow in a space. Among them, water bodies and roads are significant as they have the power to determine the prosperity, health, and harmony of a plot

Continue Reading
Negotiation Strategies: How to Get the Best Deal on Your Plot

The purchase of a plot of land is considered an investment of great proportions, and therefore, negotiating the correct price can save a lot of money. Whether you are buying for personal or to serve as an investment, a well-thought strategy will ensure you get the best deal.

Continue Reading
Vastu Tips to Choose the Perfect Plot for Your Dream Home

Selecting the right plot of land is crucial for building a harmonious and prosperous home. Vastu Shastra offers guidelines to help choose plots that attract positive energy and well-being.

Continue Reading
WhatsApp Icon
WhatsApp
enquiry Icon
Enquiry Now
subscribe Icon
Subscribe Now