Home Sale Contract Form Template for India

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Key Requirements PROMPT example:

Home Sale Contract Form

"I need a Home Sale Contract Form for selling my 3-bedroom apartment in Mumbai to a private buyer, with completion planned for March 2025, including standard payment terms with 10% deposit and transfer of society membership."

Document background

The Home Sale Contract Form is a crucial legal instrument used in Indian residential property transactions to formalize the sale and purchase of homes. This document is essential for compliance with Indian property laws, including the Transfer of Property Act, 1882, Registration Act, 1908, and RERA 2016. It should be used whenever a residential property transaction occurs in India, whether for independent houses, apartments, or other residential units. The contract includes vital information such as property details, purchase price, payment terms, warranties, and obligations of both parties, while ensuring all legal requirements for property transfer are met. It serves as the primary agreement between buyer and seller, protecting both parties' interests and facilitating smooth property transfer in accordance with Indian law.

Suggested Sections

1. Parties: Identification and details of the seller and purchaser, including names, addresses, and legal capacity

2. Background: Brief context of the sale and property ownership history

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Complete description of the property including address, dimensions, boundaries, and registration details

5. Purchase Price: Total consideration, payment terms, deposit requirements, and payment schedule

6. Title and Ownership: Seller's warranties regarding clear title and ownership rights

7. Conditions Precedent: Conditions that must be satisfied before completion of the sale

8. Completion: Details of the completion process, timing, and requirements

9. Seller's Obligations: Responsibilities of the seller including document provision and property maintenance until completion

10. Purchaser's Obligations: Responsibilities of the purchaser including payment and due diligence

11. Representations and Warranties: Standard warranties about the property's condition and legal status

12. Default and Remedies: Consequences of breach and available remedies

13. Registration and Stamp Duty: Responsibilities for registration and payment of stamp duty

14. Notices: Method and addresses for serving notices between parties

15. Governing Law: Specification of Indian law as governing law and jurisdiction details

Optional Sections

1. Mortgage Details: Include when property has existing mortgage or purchaser is obtaining mortgage financing

2. Tenant Rights: Include when property is currently tenanted or has existing lease agreements

3. Society Membership: Include for apartments/flats requiring society membership transfer

4. Power of Attorney: Include when either party is acting through an authorized representative

5. Property Tax Arrangements: Include when specific arrangements needed for outstanding or future property taxes

6. Furniture and Fixtures: Include when sale includes specific furniture or fixtures

7. Development Rights: Include when property has unused development potential or TDR

8. Force Majeure: Include when parties want specific provisions for unforeseen circumstances

Suggested Schedules

1. Schedule A - Property Description: Detailed property description including boundaries, measurements, and floor plans

2. Schedule B - Title Documents: List of title documents and chain of ownership papers

3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and installments

4. Schedule D - Encumbrances: List of existing encumbrances, if any

5. Schedule E - Inventory: List of furniture, fixtures, and fittings included in the sale

6. Schedule F - Outstanding Dues: Details of any outstanding utilities, taxes, or maintenance charges

7. Appendix 1 - Property Documents: Copies of key property documents including previous sale deed, tax receipts

8. Appendix 2 - Compliance Certificates: Copies of necessary NOCs, building permits, and 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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Insurance

Property Management

Mortgage Services

Relevant Teams

Legal

Real Estate Operations

Property Management

Mortgage Services

Documentation

Compliance

Property Valuation

Title Search

Customer Relations

Risk Assessment

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Mortgage Officer

Bank Manager

Real Estate Developer

Property Valuer

Conveyancing Lawyer

Title Officer

Compliance Officer

Real Estate Broker

Property Consultant

Legal Document Specialist

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Let's create your Home Sale Contract Form

Authors

Alex Denne

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