Conditional sale deed not valid. Once property sold, seller looses all rights in property. You can do sale deed that possession will given on future date.
I am seller of house and living at first floor and ground floor is vacant and possession is given to seller . I want to live on first floor for 4 month s .can conditional sale deed can be made before vacating
What are ingredients of this type of sale deed
Conditional sale deed not valid. Once property sold, seller looses all rights in property. You can do sale deed that possession will given on future date.
And what is the procedure of this sale deed
execute sale deed as and when you are in position to deliver possession
2) no purchaser is going to wait for 4 months after paying you full sale consideration
3) in alternative execute agreement for sale wherein 4 months time is given to purchaser to make payment and on full payment being made execute registered sale deed in his favour
1) Conditional sale deed depends upon the execution of the sale deed according to terms and conditions deed.
2) Need to review the condition sale deed.
A conditional sale deed can be made wherein you can live in the premises for 4 months by paying rent or without any rent as per your agreement and the property will belong to the buyer on the day of the registration of the sale deed and it would be specifically mentioned in the sale deed that you have no rights over the property whatsoever from the day of the registration.
Regards
Dear Sir,
It cannot be any conditional sale deed as you are not delivering entire possession. First deliver entire possession of the property which becomes absolute sale deed in favor of purchaser then enter into rent agreement or lease agreement.
Sale is a Transfer of Property it is not kind of letting out the property so in case you want to transfer the property for 4 months then you have to enter into an agreement for tenancy which is known as rent agreement on the grounds which is agreed to both the parties and for a fixed rent this is not a sale deed so there is no matter of condition in involves
Yes you can mention in that sale deed possession of the said portion shall be handed over and date can be mentioned that is of 4 months.
1. Instead of "Sale Deed", for your purposes, you can execute a "agreement to sell".
2. After your purposes are achieved finally, THEN you can execute a "sale deed".
3. Agreement to Sell is equal to "conditional sale" and if the conditions lapse for any legitimate reason, the the such agreement also lapses.
4. Sale Deed is final conveyance and irrevocable.
1. Sale deed cannot be conditional. Sale would result in absolute transfer of title immediately.
2. You must have made an agreement to sell with the buyer. You could have incorporated the desired clause in the sale agreement.
Yes, you can enter into an agreement with the buyer to continue to live in the house for a period as mutually agreed between both on payment of monthly rentals for the period of stay, if he agrees for that you can stay otherwise you can cancel the proposed sale of property.
No ingredients for this, the registered sale deed will be separate, and you may have to enter into another agreement called rental agreement to facilitate this arrangement
The sale deed would formalized in a routine manner as how a regular sale deed shall be executed, but for the period of stay you may have to enter into an agreement separately