What Is The Relevance Of Sale Deed-Conveyance Deed For Mortgaging Property To Bank

What is the relevance of Sale deed/Conveyance deed for mortgaging property to the bank

Free Legal Advice - Banking Financial

Posted by: Sushant Trivedi

Posted on: 2018-09-19

In india, the law relating to the mortgage of immovable property is contained in the Transfer of property Act, 1882. Sale deed is one of the crucial evidence that proves the identity of the actual owner of the property along with other important details that is of significance for ensuring the deal is legal and the property is being sold after following all legal obligations. The signing of deed signifies that the process of sale has been completed. The seller transfers the right of ownership to the buyer through sale deed. As soon as the document is signed, the buyer becomes the complete owner of the property. Usually, a sale deed is executed only when both sellers and buyers are fully satisfied and are ready to comply with the terms and conditions as mentioned in sale agreement. The sale deed is drafted on a non-judicial stamp paper of value as set by the state government in which the property transaction is taking place. Every state has predetermined value of stamp paper that are used for drafting immovable property.

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at Lawtendo.com and has been responded by one of the Banking Financial at Lawtendo.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at Lawtendo.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail. .

Talk to Top Rated Lawyer

Some issues just cant wait. If you need a resolution right away, then use our quick consult option to speak with our Lawtendo lawyers immediately at a small fee of Rs 600.

Talk to a Lawyer

Get Free Response




MOST VIEWED LAWYERS

  • Advocate Jayashree Patil

    Advocate Jayashree Patil

    Practice Area : Criminal Law, Civil Law, Debt Recovery, Divorce and Alimony, Labour and Service Laws, Property Dispute, Customs and central excise, Family Dispute, Documentation, Recovery, Women Protection, Consumer Matters, Domestic Violence, Marriage Registration, Legal Notice

    City: Bagalkot

    Practicing Since: 08 Year

    VIEW PROFILE
  • Advocate Murali Mohan  Rao

    Advocate Murali Mohan Rao

    Practice Area : Bail Matters, Family Dispute, Documentation, Maintenance, Domestic Violence, IPC 498A, Legal Notice

    City: Hyderabad

    Practicing Since: 15 Year

    VIEW PROFILE