The seller is obliged to provide the buyer with all documents relating to the property if he requires the documents in the possession or power of the seller. The seller is obliged, between the date of the contract of sale and the delivery of the property, to take as much care over the property and all associated ownership documents in his possession as an owner of ordinary prudence would take such goods and documents. Under „Freehold“ property, the property and ownership are held by the owner of the property. The rights and obligations of a seller are contrary to the contract. In the absence of a different contract, the rights and obligations of the seller and the buyer are governed by Article 55, Transfer of Ownership Act. The rights and obligations of the seller and the buyer, in accordance with the provisions of section 55 of the Transfer of Ownership Act, are the same as: § 55 (4) (a) – The seller has the right to receive all rents and profits of the property. § 55 (6) (a) – The buyer is entitled to any benefit of an increase in the value of the property or a capital gain, as well as its rents and profits. (b) The legal heirs of the seller claim their right of ownership. In the case of inheritance law, the owner of the property transfers the right to the property and its ownership for a certain period of time and the owner is designated as the owner and the other party as the tenant.
Ownership and ownership are automatically transferred to the owner at the end of the rental period. For each real estate transaction, the borrower bears the maximum risk. Even experts agree that all real estate transactions carry some risk. From the buyer`s point of view, it is very important to protect your interests before signing under the polka dot line. I list the 5 most critical clauses to include in the real estate sales contract to protect the interests of the buyer. Agreement with your agent. This legally binding contract includes all commissions, the estimated selling price, the duration of the contract, advertising costs and the process. Once the documentation is published, both parties can conclude an agreement to the sale and confirm the general conditions of sale. They can then execute the deed of sale on the basis of the sales agreement. The sales contract is signed and executed by the seller and the buyer on an extrajudicial stamp document.
The debit certificate is used in real estate transactions to indicate the free title. When buying an apartment, land or house, the buyer wants to make sure that the land or property does not have legal taxes. To pay the expenses, the seller is required to pay all public fees, taxes and rents that may be due on the property before the date of sale. A contract of sale is a promise in the future that the property will be transferred to the rightful owner, while the deed of sale is the actual transfer of ownership to the buyer. The letter that transfers the assignment of the property to the seller by the company or competent authority is a seller of primary documents that you must have in order….