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Deed Of Sale Of Undivided Share Of Land

Deed Of Sale Of Undivided Share Of Land Template for India

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Key Requirements PROMPT example:

Deed Of Sale Of Undivided Share Of Land

"I need a Deed of Sale of Undivided Share of Land for transferring my 25% share in a commercial property located in Mumbai to a corporate buyer, with completion scheduled for March 2025 and including specific provisions for common area maintenance and future development rights."

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Document background
The Deed of Sale of Undivided Share of Land is a crucial legal instrument in Indian property transactions where multiple owners hold or will hold rights to the same property. This document type is commonly used in joint development projects, family property distributions, and commercial real estate ventures where land is held in shares rather than physical division. The deed must strictly comply with Indian property laws, including the Transfer of Property Act 1882, Registration Act 1908, and state-specific stamp duty regulations. It's particularly relevant in urban areas where property development often involves multiple stakeholders sharing ownership rights. The document includes essential details about the property, exact share calculations, rights over common areas, and co-owner obligations. It's widely used in situations ranging from family settlements to large-scale property developments where land pooling or joint development is involved.
Suggested Sections

1. Parties: Details of the Vendor(s) and Purchaser(s) including names, ages, addresses, and legal capacity

2. Background: History of property ownership, existing co-owners, and context of the current transaction

3. Definitions: Definitions of key terms used in the deed including 'Property', 'Undivided Share', 'Common Areas', etc.

4. Details of Property and Share: Precise description of the entire property and the specific undivided share being transferred

5. Title and Ownership Declaration: Vendor's declaration of clear title and right to transfer the undivided share

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

7. Rights and Obligations: Rights and obligations of the purchaser as a co-owner, including use of common areas

8. Representations and Warranties: Vendor's warranties regarding title, encumbrances, and property condition

9. Possession: Terms of handling over symbolic or actual possession of the undivided share

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

11. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction over disputes

Optional Sections

1. Power of Attorney: Required when any party is acting through an authorized representative

2. Existing Encumbrances: Include when there are existing mortgages, liens, or other encumbrances affecting the property

3. Management Agreement: When specific arrangements for property management among co-owners need to be documented

4. Development Rights: When future development rights need to be addressed

5. Right of First Refusal: When co-owners wish to establish mutual rights for future sales

6. Partition Rights: When specific conditions for future partition need to be documented

7. Dispute Resolution: When parties want to specify arbitration or mediation procedures

Suggested Schedules

1. Schedule A - Property Description: Detailed description of the entire property including boundaries, measurements, and survey numbers

2. Schedule B - Share Details: Specific details of the undivided share being transferred, including percentage and calculations

3. Schedule C - Title Documents: List of title documents and their chain

4. Schedule D - Common Areas: Description and rules regarding common areas and facilities

5. Schedule E - Payment Details: Detailed breakdown of consideration and payment structure

6. Appendix 1 - Property Documents: Copies of key property documents including previous deeds, tax receipts, and approvals

7. Appendix 2 - Site Plan: Approved site plan or sketch showing the property layout

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

Property Development

Construction

Banking and Finance

Legal Services

Urban Planning

Agriculture (for agricultural land)

Industrial Development

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Documentation

Land Acquisition

Project Development

Risk Management

Corporate Affairs

Operations

Relevant Roles

Real Estate Lawyer

Property Manager

Land Acquisition Manager

Legal Counsel

Property Developer

Real Estate Agent

Compliance Officer

Title Researcher

Property Valuation Expert

Real Estate Transaction Manager

Development Project Manager

Legal Documentation Specialist

Industries
Transfer of Property Act, 1882: Primary legislation governing the transfer of property in India, specifically Section 54 dealing with sale of immovable property and provisions related to rights and obligations of co-owners
Registration Act, 1908: Mandates compulsory registration of sale deeds for immovable property, including undivided shares, and prescribes the procedure for registration
Indian Stamp Act, 1899: Determines the stamp duty payable on property transfer documents at the federal level
State-specific Stamp Duty Acts: State-level legislation determining the applicable stamp duty rates and additional state-specific requirements for property transfers
Indian Contract Act, 1872: Governs the basic principles of contract formation, including offer, acceptance, consideration, and capacity of parties
Indian Easements Act, 1882: Relevant for defining rights and obligations in shared property arrangements, particularly important for undivided share transactions
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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