Agreement Of Sale Can Be Registered
2) You can enter into a sale agreement by indicating the period within which the payment of the balance must be made and the current deed of sale In accordance with Section 54 of the Transfer of Ownership Act, a sales contract, i.e. a non-sale contract, does not create on its own, does not create interest or royalty to such a property. Hon`ble Apex Court has found in numerous earlier cases, after recognition of various legal provisions, that a sales contract confers only a fiduciary character of the personal undertaking and is attached to the property, but does not constitute an interest or relief. Therefore, the transfer of real estate by sale can only be carried out by a willingness to transport (sale). In the absence of a transport authorization (duly stamped and legally registered), no rights, property or interest in real estate can be transferred. Any sales contract (sales contract) that is not a registered transportation permit (authorization to sell) would be less than the requirements of Sections 54 and 55 of TPA and would not authorize the property or the transfer of interest on a property. According to TPA, a sale agreement, whether owned or not, is not transportation. Section 54 of the TP Act provides that the sale of real estate can only be done by a registered instrument and that a sale agreement does not create interest or fees on its property. There is no savings/deeming system under the law that takes into account the fate of unregistered ATS exported before May 1, 2017. In order to determine the fate of these ATs, the law could have been considered to have been registered under the Act before May 1, 2017 (subject to payment of a royalty to the relevant sub-registry), provided that even the ATS that were executed before May 1, 2017 are registered within a specified time frame, as required by the registration of current projects pursuant to Section 3 of the Act.
In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act.