AGREEMENT FOR SALE
THIS AGREEMENT is made at ___________ on this ___________ day of ___________.
BETWEEN
Mr. A, aged _____ years, son of ___________, residing at ___________ (hereinafter referred to as the “VENDOR,” which expression shall, unless repugnant to the context or meaning thereof, include his heirs, executors, administrators, and assigns) of the FIRST PART.
AND
Mr. B, aged _____ years, son of ___________, residing at ___________ (hereinafter referred to as the “VENDEE/PURCHASER,” which expression shall, unless repugnant to the context or meaning thereof, include his heirs, executors, administrators, and assigns) of the SECOND PART.
WHEREAS:
- The Vendor is the absolute owner and is lawfully seized and possessed of the property bearing No. ___________ admeasuring ___________ situated at ___________ (hereinafter referred to as the “said property”).
- The Vendor has agreed to sell and the Vendee has agreed to purchase the said property for a consideration and upon the terms and conditions hereinafter mentioned.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS:
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Agreement to Sell
The Vendor agrees to sell, transfer, and convey the said property to the Vendee, and the Vendee agrees to purchase the same for a total consideration of ₹_________ (Rupees ___________ only). -
Payment of Consideration
The total consideration is agreed to be paid as follows:- ₹_________ as earnest money at the time of execution of this agreement.
- ₹_________ on or before ___________.
- ₹_________ at the time of execution and registration of the Sale Deed.
The Vendor acknowledges the receipt of ₹_________ as earnest money paid via cash/cheque/DD No. ___________ dated ___________ drawn on ___________ Bank, ___________ Branch.
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Title and Encumbrances
The Vendor warrants that:- The title to the said property is clear, marketable, and free from all encumbrances, liens, and reasonable doubts.
- The Vendor shall produce all title deeds for inspection by the Vendee or the Vendee’s advocate.
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Necessary Permissions
The Vendor agrees to obtain and furnish any and all permissions required under applicable laws for the registration of the Sale Deed in favor of the Vendee. -
Completion of Sale
The sale transaction shall be completed within a period of ___________ months from the date of this agreement unless extended by mutual consent in writing. -
Taxes and Levies
- All taxes, levies, or other dues on the said property shall be borne and paid by the Vendor up to the date of execution of the Sale Deed.
- The Vendor shall provide all tax receipts and clearances to the Vendee at the time of completion of the sale.
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Possession
The Vendor agrees to deliver vacant, physical, and actual possession of the said property to the Vendee at the time of execution of the Sale Deed. -
Expenses
The expenses for stamp duty, registration charges, and other incidental costs related to this agreement and the Sale Deed shall be borne by the Vendee. -
Default by Vendor
If the Vendor fails to establish a clear, marketable title or otherwise defaults, the Vendee shall have the right to cancel this agreement by giving a 15-day written notice. Upon such termination, the Vendor shall refund the earnest money to the Vendee. -
Default by Vendee
If the Vendee fails to fulfill his obligations under this agreement within the stipulated time, the Vendor shall have the right to cancel this agreement by giving a 15-day written notice. In such an event, the Vendor shall be entitled to forfeit the earnest money paid by the Vendee. -
Schedule of Property
(Detailed description of the property including dimensions, boundaries, and any identifiable landmarks.)
IN WITNESS WHEREOF, the parties hereto have signed this Agreement on the date and place first above written in the presence of the following witnesses:
VENDOR: ___________________________
VENDEE: ___________________________
WITNESSES:
This draft satisfies the provisions under Sections 54 and 55 of the Transfer of Property Act, 1882 and aligns with the mandatory requirements under the Indian Registration Act, 1908. Ensure that it is tailored with specific legal consultation.
