A legitimate document proving ownership of the immovable object is the sale deed. A sale deed is written on non-judicial stamp paper with the required value that has been established by the state government. The buyer is responsible for paying the stamp duty & registration fees. Before executing the sale transaction, the seller should make sure that any outstanding debts, such as property taxes, loans on the property, water bills, and energy bills, have been paid.

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Information on the Sale Deed

In a sale deed, the following details are include:

• Information about the seller and buyer, such as name, age, or address
• Information on the property, including its size, its construction, and its precise address
• Final transaction price for the property, which also takes into account any advance payments and the method of payment
• When ownership will be transfer to the buyer together with all of the original property documentation
• An indemnification clause guarantees that the seller will compensate the buyer for any damages in the event of ownership issues that cause the buyer to suffer financial losses.
• If the buyer or seller is in default, the default clause applies. The sale deed will not be impact because the non-offending party will receive payment from the defaulting party.

How to Get a Copy of a Duplicate Sale Deed

A duplicate copy of the sale deed may be obtain from the sub-office registrar’s in the event that the original is lost. The following steps must be taken in order to obtain a certify copy of a lost selling deed:

1ststep: files a First Information Report (FIR) with the neighbourhood police department. If the police are unable to locate the sale deed copy, a non-traceable certificate will be issue.

Step 2nd: Publishing an advertisement in a newspaper that includes all the information required to demonstrate to the sub-registrar that you will have made every effort to locate the misplaced sale document. You can submit an affidavit if the selling deed cannot be located.

Step 3rd: By submitting a notarized affidavit and the following documentation, you can fill out an application just at sub-registrar office.

• Copy of the First Information Report (FIR)
• Advertising copy
• Complete information about the property
• A duplicate certificate that is untraceable
• Formal declaration that the data is accurate and correct

How to Obtain a Copy of a Sale Deed If You’re Bank Has Lost It

The same deed must be include with your application for a house loan as one of the supporting papers. If your bank has lost the selling deed document, follow these easy procedures to get a replacement.

1st Step : First, file a complaint with bank claiming that they have lost the copy of the sale deed. Keep copies of their reply for future use as reference.

2nd Step : File a police report (FIR) accusing the bank of having misplace the sale deed you include with your mortgage application.

3rd Step : Secure an acknowledgment bearing your signature and the seal of the bank over the police report.

4th Step : To check if you can obtain the documents returned, you must also place an advert in at least two newspapers. Likewise, save a copy of this advertisement.

5th Step : Obtain an affidavit from the bank claiming that your selling deed documents have been missing.

6th Step : Request a duplicate certificate of your sale deed from the registrar’s office and submit an application for an encumbrance certificate.

The conclusion

One of the important documents needed for both real estate transactions and the application for home loans is the sale deed. Make sure to apply for a new selling deed right away if you’ve lost your old one. To obtain a duplicate copy of the deed, you might have to pay a fee. Depending on the location and kind of your property, these fees can range from Rs. 1,000 to Rs. 10,000. If all the paperwork is submit correctly, you can obtain a duplicate copy of your sale deed within 15 days of the application date.

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