Sale Deed In kolkata

Introduction

If you are looking to get a share of your property in Kolkata then you just need a Sale Deed for transferring the property from the Seller’s name to your own name. The team of lawyers at Lawtendo in Kolkata is well-versed with the laws, rules, regulations, and procedures to get the desired sale deed but before divulging into the minute details of what exactly a Sale Deed stands for, and how to obtain one is discussed in further details below. 

What is a Sale Deed in Kolkata?

A Sale Deed is a document that transfers the ownership of the property from one party to another. It legally transfers the ownership of the land from one person to another person. A Sale Deed in a nutshell is a document that depicts the roles and responsibilities of the parties for a sale consideration. There are basically two parties to a Sale Deed in Kolkata. The parties to a Sale Deed have been discussed in detail.

Parties to a Sale Deed in Kolkata 

There are two parties to a Sale Deed in Kolkata. There have been discussed below:

1. Vendor: The Seller who is selling the property to the Buyer is called the Vendor. A Vendor who is transferring the property in case of the property sale. 
2. Vendee: A person who is taking a share of the property is called a Vendee. A Buyer is said to be called a Vendee in the case of transfer of the property. 

Hence, these are the two parties to a Sale Deed in Kolkata. 

What are the roles and responsibilities of both parties to a Sale Deed in Kolkata? 

What are the documents required for a Sale Deed in Kolkata?

There are a plethora of documents that are required for a Sale Deed in Kolkata. A person must keep with themselves the following documents to get their deed registered. These documents are as:

1. Sale Agreement: A document that is required to give a start to the process of transaction of getting a sale deed registered in Kolkata is a Sale Agreement. A Sale Agreement lays down the blueprint for transferring the property from one person to another. 
2. Tax Receipts: To conclude the sale of the property a tax receipt is required in Kolkata for the payment of all the property related taxes.
3. Payment Receipt: The receipt of all the payments related to the property should be kept handy for the purpose of registering the property.
4. Obtaining Encumbrance Certificate: For a Sale Deed to get registered in Kolkata it is an essential qualification that an encumbrance certificate should be obtained. An encumbrance certificate clarifies that no legal dues are pending on the property.

5. The layout of the Plan: The other important document that is required to be kept with the parties to a sale deed is the layout of the plan of the property. 

6. Draft of the Title Deed: A draft Title Deed clears out the transferor and transferee in the case of transfer of property from one person to another. 
7. Stamp Duty Receipt: One of the essential documents that the parties to a Sale Deed should keep with themselves to register the sale of the property is a receipt of the stamp duty.
8. Sharing Agreement: An agreement that is signed by the owner of the property and the builder is a Sharing Agreement. 
9. Letter of Allotment and Possession Letters: This is a document that clarifies that the allotment of the property from the builder to the prospective owner of the property has been completed. 
10. Completion Certificates: The certificates which confirm that the property has been constructed in accordance with the laid rules and regulations and is in compliance with them. 
11. Proof of Identity and Photographs: The main document that will enable the registrar to check the identity of both parties is their ID documents, with address proof, along with passport-size photographs. 

Hence, these are the documents that are required for registering a Sale Deed in Kolkata however the above list is not exhaustive it is just an illustrative list. The documents may vary from case to case basis. 

What is the procedure to register a Sale Deed in Kolkata? 

The process of getting a Sale Deed registered in Kolkata is a cumbersome procedure that requires a lot of time and effort from both parties to the transaction. Therefore, it is very essential that the help from a legal expert should be taken into consideration. At Lawtendo we help our clients to get their Sale Deeds registered in Kolkata easily and at their ease. The process to register a Sale Deed in Kolkata runs as: 

1. Preparing the Sale Deed: The first step is to prepare the Sale Deed with the help of a lawyer. The Sale Deed should include the details of both parties along with their roles, responsibilities, considerations, signatures, etc.
2. Presenting the Sale Deed to Sub-Registrar: The next step in the process of getting a Sale Deed registered in Kolkata is to present the deed to the office of sub-registrar along with all the necessary documents discussed above at the local office in Kolkata. 
3. Verification by the Sub-Registrar: The last step in the process of getting a Sale Deed registered in Kolkata is the verification process performed by the sub-registrar to clarify that there are no existing encumbrances on the property. 

Therefore, this is how the process of registering a Sale Deed in Kolkata is done. The Registration Act, 1908 makes the registration of all the properties obligatory which is more than ₹100 in value. 

How to obtain a lost Sale Deed in Kolkata?

If for any reason the Buyer misses out on the Sale Deed in Kolkata they may get back the registered copy of the Sale Deed again. The procedure runs as:

1. Filing of the complaint: The first step in the process of getting back the registered Sale Deed is to file a First Information Report (FIR) at the nearest police station for the loss of the registered Sale Deed. 
2. Issuance of the non-traceable certificate: The next step in the process of getting back the loss certificate is to obtain a copy of the non-traceable certificate.
3. Advertisement: The third step in this process is to publish an advertisement in the local newspaper regarding the loss of the registered sale deed of the property in Kolkata.
4. Presenting application to sub-registrar: The next step is to take the copy of the non-traceable certificate along with the advertisement’s copy to the office of the sub-registrar to get the original copy of the Sale Deed in Kolkata. 

Holding of the property in Kolkata

The pattern of the holding of the property is an essential requirement if there is more than one party because it defines how the parties want to hold between themselves it could be as Joint Tenants and Beneficial Joint Tenants. 

Payment of Stamp Duty

The transactions that are performed with the help of a Sale Deed attract capital gains tax. The payment of Stamp Duty does not come within a single jacket formula. Usually, stamp duty is paid by 4% to 6% of the value of the property in Kolkata. 

What are the probable consequences of non-registration or execution of the Sale Deed in Kolkata? 

The most highlighted repercussions for non-registration or execution of a Sale Deed is the problem that a Buyer has to face while selling off the property and losing the power to sue the Seller in case of keeping the deposit money on account of any discrepancy in the property. 

What are the protections afforded to a Buyer in Kolkata? 

A Buyer enjoys certain rights before and after the purchase of the property in Kolkata. The Buyer gets the right to enjoy the property freely after the completion of the purchase and payment of the amount and in case the Seller makes a default in properly transferring the property or the Buyer finds any patent defect in the property then in such a circumstance the Buyer may bring a legal action against the Seller and can claim their earnest money. 

What are the legal actions that a party can seek against the breach of the Sale Deed in Kolkata?

If any party breaches their respective legal obligations in the Sale Deed in Kolkata either of the party who has breached their legal obligation is liable to bring a legal action against the defaulting party in Kolkata. 

What are the rights of a Buyer in Kolkata?

The Buyer enjoys certain kinds of rights after taking possession of the transfer of the property in Kolkata. These are:

1. Right to sell the property
2. Right to Transfer
3. Right to Lien or Mortgage. 

Therefore, these are the rights that a Buyer in Kolkata enjoys. 

Is it possible to cancel a Sale Deed in Kolkata?

Yes, it is definitely possible to cancel a Sale Deed in Kolkata. But it is imperative to the process of cancellation that the parties should satisfy the court of the harm and there are definite reasons to cancel a registered Sale Deed in Kolkata. These can be:

1. The execution of the Sale Deed may bring any kind of harm or injury to the applicant
2. Facts have been misrepresented in order to get the Sale Deed signed
3. If a minor has executed the Sale Deed it will be declared as null and void.
4. If the Sale Deed has been created under any kind of undue influence. 

Hence, these are the circumstances under which an already registered Sale Deed can be canceled in Kolkata.

What is the difference between a Sale Deed and a Sale Agreement in Kolkata?

FAQS

Q: Why is a Sale Deed required in Kolkata?

A: A Sale Deed is required in Kolkata to transfer the ownership of the property from one person to another.

Q: Is it possible to buy a property that does not hold a valid Sale Deed?

A: It can be possible to buy a property that does not hold a Sale Deed as it may cause hardships regarding the rights, and liabilities of the Seller.

Q: How to deal when a Sale Deed is lost?

A: An FIR is required to be lodged and a non-traceable certificate is required to be obtained to get a copy of the registered sale deed again.

Q: What is the validity of a Sale Deed?

A: As such there is no validity to a Sale Deed. A Sale Deed is valid up to the time when a Seller wishes to sell the property.

Q: Can a registered Sale Deed be challenged?

A: Yes, a Sale Deed can be challenged in a court of law on account of undue influence, misrepresentation of fact, minor, etc.

Q: What are the important elements of a Sale Deed?

A: A typical Sale Deed contains the names of both parties, their rights and responsibilities, the amount of consideration, etc.