Agreement Of Sale Paper


Section 54 of the Transfer of Ownership Act provides that the sale of immovable property may be made only by a registered instrument and that a contract of sale does not generate interest or charges for its property. `Any contract of sale (agreement of sale) which is not a registered deed of assignment (deed of sale) would not satisfy the requirements of sections 54 and 55 of the Transfer of Ownership Act and would not confer title or interest in immovable property (with the exception of the limited right granted under section 53A of the Transfer of Ownership Act).` “A contract for the sale of immovable property is a contract that is carried out on the terms agreed between the parties” – Section 54. Similarly, the seller obtains the right to obtain consideration from the buyer if his part of the general conditions of sale is respected. . . .