Document background
The As Is Where Is Basis Deed of Sale is a specialized legal document used in Indian property transactions where the buyer agrees to purchase the property in its existing condition without any warranties from the seller. This document type is commonly utilized in situations such as bank auctions, distress sales, liquidation proceedings, or when selling properties requiring significant repairs. The deed explicitly documents the property's current condition, including all known defects and liabilities, and includes the buyer's acknowledgment of these conditions. It offers protection to sellers by limiting their liability regarding the property's condition while ensuring transparency in the transaction. The document must comply with the Transfer of Property Act 1882, Registration Act 1908, and relevant state-specific property laws in India. It's particularly important in scenarios where the seller cannot or does not wish to make repairs or improvements before the sale.
