AGREEMENT FOR SALE
THIS AGREEMENT FOR SALE is made and executed on this _______ day of ___________month of _____________ year at ___________ BETWEEN Smt./Sri.__________________________ W/o. / Sri.______________ aged _____ years residing at ___________________________________ hereinafter called the “SELLER” (which expression shall mean and include her legal heirs, successors, successors-in-interest, executors, administrators, legal representatives, attorneys and assigns) of ONE PART.
AND
Smt./Sri.__________________________ W/o. / Sri.______________ aged _____years residing at ___________________________________ hereinafter called the “PURCHASER” (represented by his _____________ as power of attorney holder) which expression shall mean and include his heirs, successors, executors, administrators, legal representatives, attorneys and assigns) of the OTHER PART.
WHERE AS THE SELLER is the absolute owner in possession and enjoyment of the 1residential / Commercial property bearing No.______________________ measuring East to West _____ feet and North to South _____ feet which is morefully described in the schedule hereunder and hereafter called the “SCHEDULE PROPERTY”.
WHERE AS the schedule property is the self acquired property of Sri.______________ vide registered Sale deed bearing No.________ Volume No.______ Page _____ to ______ dated ________ registered at Sub-Registrar’s Office, _________________. He having acquired the same without any aid or assistance from his family of any quarters/ built the schedule property entirely with his own earnings.
2WHEREAS said Smt./Sri._____________________ bequeathed the entire schedule property in favour of SELLER _________________ a will dated ________ / a registered will bearing No._________ Book III, Volume ____Page_____ to _____ dated ___________ registered at Sub-RegistrarOffice,___________________.
WHEREAS there are no encumbrances, liens, charges, Government dues, attachments, acquisition, or requisition, proceedings and whereas the SELLER has clear and marketable title to the Schedule Property and he/she has absolute power to convey the same.
WHEREAS the SELLER being in need of funds for the purpose of __________________________________________________________________has decided to sell the schedule prope rty after obtaining consent of his wife/her husband, sons and daughters.
WHEREAS the SELLER offered to sell and transfer the schedule property to the PURCHASER for a sale consideration of Rs.____________(Rupees_________________ only) and the PURCHASER herein has agreed to purchase the same for the aforesaid consideration on the following terms and conditions:
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
1. The Sale Value of the Schedule Property is fixed at Rs.___________ (Rupees_____________________only).
2. The PURCHASER has paid a sum of Rs.___________ (Rupees_____________________only) by cash/cheque/D.D. bearing No.____________ drawn on __________ dated ________ as advance, the receipt of which sum the SELLER does hereby acknowledges.
3. The balance payment of Rs.___________ (Rupees_____________________only) will be paid by the PURCHASER to
the SELLER at the time of execution of the Absolute Sale Deed and thus complete the Sale transaction.
4. The parties herein covenant to complete the Sale transaction and to execute the Absolute Sale Deed by the end of_________________.
5. The SELLER confirms with the PURCHASER that he/she has not entered into any agreement for sale, mortgage or exchange whatsoever with any other person relating to the Schedule Property of this Agreement.
6. 3SELLER agrees to put the purchaser in absolute and vacant possession of the schedule property after executing the sale deed and registering the same in the jurisdictional Sub-Registrar’s office.
7. The SELLER covenants with the purchaser that he/she shall not do any act, deed or thing creating any charge, lien or encumbrance in respect of the schedule property during the subsistence of this Agreement.
8. The SELLER has specifically agreed and covenants with the PURCHASER that he/she shall do all acts, deeds and things which are necessary and requisite to convey absolute and marketable title in respect of the schedule property in
favour of the PURCHASER or his nominee.
9. IT IS AGREED between the parties that all expenses towards Stamp Duty and Registration charges shall be borne by the PURCHASER only.
10. The SELLER covenant to obtain at her cost necessary permission from the competent Authority, Income Tax Clearance Certificate and such other
Certificate / Document as may be required at the time of Registration of Sale Deed in pursuance of this Agreement.
11. The PURCHASER shall have the right to nominate or assign his right under this agreement to any person / persons of his choice and the SELLER shall execute the Sale Deed as per terms and conditions of this Agreement in favour of the PURCHASER or his nominee or assignee.
12. The SELLER has agreed to get consent deed duly executed to this Sale transaction from his wife/her husband, sons and daughters on or before date of registration of Sale Deed and assured that they all join to execute sale deed in
favour of the purchaser.
13. It is hereby expressly provided and agreed by the parties here to that both parties are entitled to enforce specific performance of the agreement against each other in case of breach of any conditions mentioned in this Agreement.
14. The original of the “AGREEMENT” signed by both the parties shall be with the PURCHASER and copy of the same similarly signed shall be with the SELLER.
SCHEDULE
All the piece and parcel of 1___________ property bearing No.____________ situated at __________________________________ measuring East to West ________ feet (_________ feet) and North to South _______ feet (___________feet) in all ___________ sq.ft. or ___________sq.mtrs. and bounded on:
NORTH : By _______________
SOUTH : By _______________
EAST : By _______________
WEST : By _______________
Details of the Building:
i) Plinth area of the building
ii) Type of Roof.
iii) Type of flouring.
iv) Type of wood used.
v) Amenities available.
vi) Year of construction.
IN WITNESS WHEREOF the SELLER and the PURCHASER have signed this Agreement of Sale on the day month and year herein above mentioned in the presence of the following witnesses at ________________.
WITNESSES:
1. SELLER
2. PURCHASER
Note:-
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Specify whether the property agreed to be sold is Residential or Commercial or Industrial
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Strike out whichever is not applicable.
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10% Stamp duty payable on an agreement to sell if the possession of the property is delivered or is agreed to be delivered without executing the conveyance. Click on Schedule to the Karnataka Stamp Act, 1957, - Article 5(e) (i)
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If the property agreed to be sold is consisting of a building or buildings then furnish the details of such building or buildings.
