A sale deed, also known as the final deed or conveyance deed.Is an instrument in writing which legally transfers the ownership rights of an immovable property from one person to another in exchange of a price paid/consideration. It is made for the sale or purchase of land or any construction made on it. A sale deed includes Name and address of the buyer and seller. Detailed description of the property.Total payment to be made, mode of payment, date when the payment is to be made. Date of handing over of property documents. Other terms and conditions of the sale.
Any property transfer made through sale or purchase is to be documented through sale deed. It is an important legal document governed by the Registration Act This document mentions all the essential terms and conditions related to the business, such as profit/loss sharing, obligations, admission of new partner/s, decided rules, salaries, exit process, etc. Partnership deed is created on a judicial stamp paper obtained from the respective State Registrar Office and has to be signed by all the partners. The deed must be executed by the grantor in solemn form. A seal must be affixed to the deed.
Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. A partnership deed is a legal agreement when two or more people come together to run an enterprise. This document mentions all the essential terms and conditions related to the business, such as profit/loss sharing, obligations, admission of new partner/s, decided rules, salaries, exit process, etc.
A deed of gift is a signed legal document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property – such as a gift of materials – from one person or institution to another. A gift deed is a document that records the act of giving a gift and is executed between the donor (the person giving the gift) and the donee (person receiving the gift). Though it is not compulsory to execute a gift deed while gifting any asset, it does create a valid documentary record.
Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. A partnership deed is a legal agreement when two or more people come together to run an enterprise. This document mentions all the essential terms and conditions related to the business, such as profit/loss sharing, obligations, admission of new partner/s, decided rules, salaries, exit process, etc.
A release deed involves a transfer of right, title, and interest in the immovable property, and is considered valid only when it is signed by parties in the presence of witnesses, adequately stamped and registered. A deed of release refers to a legal document that eliminates a claim previously made on an asset. It helps with the documentation of release from a mandatory agreement. The deed may be included when a homeowner receives the title of a property from the lender upon satisfactory completion of mortgage payments. you can challenge the release deed/ relinquishment deed after the death of the person. but to challenge it you need to have solid grounds and proof stating that the deed was made fraudulently.
A mortgage deed is, in short, a document that contains all details concerning the loan given including the parties involved, details of the property kept as collateral, loan amount, interest rate, and more. The deed gives a thorough run-through with regards to the interest and title over the property. Execute the mortgage documents. Affidavit to be sworn by two witnesses in the deed. Visit the notary public who will get the document notarized. Pay for the stamp duty. Pay for the registration in the Registrar of Deeds office. Obtain the title for the mortgage.
Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. It is also called a partnership agreement. Contents of Partnership Deeds:- The name of the firm. Name and details of all partners. Date of commencement of business. Duration of the firm's existence. Capital contributed by each partner. Profit/loss sharing ratio. Interest on capital payable to partners. The extent of borrowings each partner can draw.
Rectification or Confirmation deeds are also known as correction deeds. They are entered between two parties to rectify any errors made in a previous deed. These errors may include typing errors, misspelled names, errors in the property description, or any other error in the execution of the documents. In case the original deed is registered, one should get the rectification deed also registered. And pay the requisite stamp duty and registration charges as per the laws in force in the State. For general mistakes like spelling mistakes, the stamp duty and registration charges are Rs 100 each
A cancellation deed is a legal document that extinguishes any rights the buyer of a property may have had to it. It cancels the property transfer that had taken place from the buyer to the seller. The cancellation deed must be signed by both the buyer and the seller. Sections 31 to 33 of the Specific Relief Act, 1963 provides illustrations regarding when and how a deed can be canceled. According to this Act, cancellation is possible when and if: An individual feels that the deed is voidable or has a doubt that such a deed will cause him injury if left outstanding.
An exchange deed is a type of deed registered between owners of properties in order to exchange the properties between the transacting parties. The transaction is different from a conventional property sale because there is no transfer of money between the parties. As per the law, the exchange deed claims to transfer rights in immovable property, as per Section 54 of the Transfer of Property Act; it has to be registered with the office of the registrar of assurance. The exchange of immovable property has an income tax implication.
