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About this template
What is this template?
This document is a formal contract for the transfer of freehold land title from a vendor to a purchaser. It contains specific timelines for delivering an abstract of title and raising legal requisitions that are not found in standard deeds of conveyance. It explicitly excludes the vendor's liability for interest on returned deposits if the contract is rescinded due to title disputes.
When should you use it?
Use this document when entering the executory stage of a real estate transaction in India before the final sale deed is executed. If the transaction involves a leasehold interest rather than absolute freehold ownership, use a Lease Assignment or an Agreement for Sale of Leasehold Property instead.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Sale and Purchase | The Vendor sells the freehold property for a specified sum in Rupees, acknowledging a deposit paid to a stakeholder upon signing. |
| 3 | Requisitions and Objections | The Purchaser must deliver title objections within 14 days of receiving the abstract or they are deemed to have accepted the title. |
| 4 | Rescission of Contract | The Vendor may rescind the contract and return the deposit without interest if the Purchaser insists on an unacceptable title requisition. |
| 6(ii) | Compensation for Errors | Errors in property description do not annul the sale but require reasonable compensation determined by arbitration under the Arbitration and Conciliation Act 1996. |
| 7 | Completion and Possession | The Purchaser pays the balance on a fixed date at the Vendor's Advocate's office to receive possession and execute the assurance. |
| 9 | Default and Resale | Non-compliance results in deposit forfeiture and allows the Vendor to resell the property and recover any price deficiency as liquidated damages. |
Who it's for
- a seller of freehold land in India providing a title abstract to a buyer
- parties transacting property subject to existing tenancies listed in a schedule
- a buyer paying a deposit in Rupees to a stakeholder before final completion
- investors purchasing freehold property where title requisitions must follow a 14-day deadline
How long it runs and how it's signed
Law it's drafted under
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