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Deed Of Sale Corporation

Deed Of Sale Corporation Template for India

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Key Requirements PROMPT example:

Deed Of Sale Corporation

"I need a Deed of Sale Corporation for transferring ownership of our manufacturing facility in Mumbai to ABC Industries Limited, with completion scheduled for March 2025, including specific provisions for existing machinery and equipment on the premises."

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Document background
The Deed of Sale Corporation is a crucial legal instrument in Indian corporate property transactions, used when a company needs to transfer ownership of real estate assets. This document type is specifically designed to meet the requirements of both corporate and property laws in India, ensuring compliance with the Companies Act 2013, Transfer of Property Act 1882, and relevant state laws. It includes corporate authorizations, board resolutions, property details, consideration amount, and necessary representations and warranties. The deed must be properly stamped and registered at the Sub-Registrar's office in the jurisdiction where the property is located. This document is particularly important as it serves as conclusive evidence of the transfer and helps maintain clear title records in corporate property transactions.
Suggested Sections

1. Parties: Details of the seller corporation and buyer, including registration numbers, registered addresses, and authorized representatives

2. Background: Context of the sale, including brief history of ownership and reason for sale

3. Definitions: Definitions of key terms used in the deed

4. Details of Property: Comprehensive description of the property being sold, including boundaries and measurements

5. Title and Ownership: Seller's declarations regarding clear title and authority to sell

6. Consideration: Purchase price, payment terms, and acknowledgment of receipt

7. Transfer of Rights: Express terms of transfer of ownership and rights

8. Seller's Representations and Warranties: Warranties regarding title, encumbrances, litigation, statutory compliance

9. Possession: Terms of handing over physical possession

10. Registration and Expenses: Responsibilities for registration, stamp duty, and other expenses

11. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

12. Execution: Execution blocks for authorized signatories with corporate seals

Optional Sections

1. Environmental Compliance: Required when property involves industrial or commercial premises with environmental implications

2. Municipal Approvals: Needed when property requires specific municipal clearances or has pending applications

3. Statutory Compliance: Required when property is subject to special regulations or requires specific permits

4. Encumbrances: Detailed section needed if property has any existing charges or encumbrances to be cleared

5. Third Party Rights: Required when there are existing tenants or other third-party interests

6. Foreign Exchange Compliance: Needed when transaction involves foreign parties or cross-border elements

Suggested Schedules

1. Property Description Schedule: Detailed technical description of property including measurements, boundaries, and survey numbers

2. Title Documents Schedule: List of all title documents and chain of title

3. Encumbrance Certificate: Recent encumbrance certificate showing charges on property

4. Corporate Authorizations: Board resolutions, shareholder approvals authorizing the sale

5. Payment Schedule: If payment is in installments, detailed payment terms and conditions

6. Property Tax Records: History of property tax payments and pending dues

7. Existing Contracts: List of relevant contracts affecting the property (if any)

8. Compliance Certificates: Copies of relevant statutory and regulatory compliance certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Manufacturing

Industrial

Commercial Property

Retail

Hospitality

Healthcare

Technology Parks

Warehousing and Logistics

Education

Relevant Teams

Legal

Finance

Compliance

Real Estate

Corporate Affairs

Company Secretarial

Risk Management

Property Management

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Legal Director

Company Secretary

Property Manager

Real Estate Manager

Compliance Officer

Corporate Lawyer

Property Lawyer

Finance Director

Asset Manager

Directors

Board Members

Industries
Companies Act, 2013: Governs corporate operations in India, including the authority to sell assets, board resolutions required, and corporate documentation needs
Transfer of Property Act, 1882: Fundamental law governing property transfers in India, including requirements for valid transfers, rights and obligations of parties
Registration Act, 1908: Mandates the registration requirements for property transfer documents and the procedure for registration
Indian Stamp Act, 1899: Determines the stamp duty payable on transfer documents and requirements for proper stamping
Income Tax Act, 1961: Governs tax implications of the sale, including capital gains tax and TDS requirements
Indian Contract Act, 1872: Provides the basic framework for contractual relationships and requirements for valid contracts
Foreign Exchange Management Act, 1999: Relevant if the transaction involves foreign corporations or cross-border elements
State-specific Stamp Duty Laws: Local stamp duty rates and requirements that vary by state where the property is located
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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