Agreement of Sale
The Tamil Nadu Registration Department issued this Agreement of Sale template for recording a proposed sale of vacant house-site property between a vendor and purchaser. It sets out the agreed price, payment schedule, deadline for completing the sale deed, responsibility for expenses, title assurances, document delivery and vacant possession.
What the document covers
The Agreement of Sale is a template for a vendor and purchaser to record the terms of a proposed sale of a vacant house site. The parties must fill in their names, addresses, identification details, mobile numbers and the property's description and ownership history.
The template records that the vendor is in possession and enjoyment of the property and has agreed to sell it free from encumbrances, charges and liens. It also records the total sale consideration and how the purchaser will pay it.
Payment and completion
The Agreement of Sale provides for part of the consideration to be paid by cheque. The balance must be paid within three months from the agreement date or when the sale deed is executed, whichever is earlier.
Key completion terms include:
- The parties must finalise the sale within three months from the agreement date.
- Time is stated to be essential to the agreement.
- The vendor must convey the property free from encumbrances to the purchaser or the purchaser's nominee.
- The purchaser or nominee must bear the stamp duty and registration expenses for the sale deed.
- The vendor must provide vacant possession when the sale deed is registered.
Vendor assurances and documents
The Agreement of Sale requires the vendor to confirm that:
- The property is not involved in litigation or subject to attachment by a court or other authority.
- The property has not been offered as security to another person or authority.
- No earlier sale agreement has been made with a third party for the property.
- All taxes, levies and other outgoings will be cleared up to the date of execution of the sale deed.
The vendor is to hand over photocopies of the property documents when signing the agreement and deliver the original title documents when the sale deed is executed.
Default by either party
If the vendor fails to comply with the Agreement of Sale, the purchaser may seek specific enforcement without giving up a claim for damages. The template gives the vendor the same stated remedy if the purchaser defaults.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Who pays the stamp duty and registration expenses for the sale deed?
The purchaser or the purchaser's nominee must bear the stamp duty and registration expenses.
How long do the parties have to complete the property sale?
The parties must finalise the sale within three months from the agreement date. The balance consideration is payable within that period or when the sale deed is executed, whichever is earlier.
When must the vendor hand over the original title documents?
The vendor must deliver the original title documents to the purchaser on the date the sale deed is executed. Photocopies are to be handed over when the agreement is signed.
What must the vendor confirm about claims against the property?
The vendor must confirm that the property is free from encumbrances, is not under litigation or attachment, has not been offered as security, and is not covered by a prior sale agreement with a third party.
