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What should I include in a property sale agreement to protect my interests in Delhi?

What should I include in a property sale agreement to protect my interests in Delhi?

Published At July 17, 2024

Answer

To protect your interests in a legal property sale agreement in Delhi, ensure the following elements are included:

  • Clear Identification of Parties: Include full names, addresses, and identification details of both buyer and seller.
  • Detailed Property Description: Clearly describe the property being sold, including its location, size, and boundaries.
  • Purchase Price and Payment Terms: Specify the agreed purchase price, payment schedule, and any advance payments.
  • Possession and Title Transfer: Define the possession date and conditions for transferring the title to the buyer.
  • Contingencies and Special Conditions: Include any conditions that must be met for the sale to proceed, such as financing or inspections.
  • Warranties and Representations: Ensure the seller provides warranties about the property’s condition and legal status.
  • Dispute Resolution Clause: Include a clause detailing the process for resolving any disputes that may arise.

Consulting real estate lawyers in Delhi during the drafting process ensures that all legal requirements are met and your interests are fully protected.

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