Hita-Legal

About Agreement for Sale

Agreement for sale is an agreement prior to the sale deed where the seller expresses their interest by agreeing to transfer the goods or property to the buyer for a specific consideration at a later date or when a condition has been fulfilled prior to the transfer. Like any other agreement, the agreement for sale must be in writing and signed by the parties to the agreement.

Important Points/ Key Elements to be considered:

  1. Parties
  2. Title of Lessor
  3. Total Consideration
  4. Description of Property
  5. Time period within which the balance sale consideration will be paid (if any)
  6. Breach/ Default clause
  7. Termination clause
  8. Indemnity clause
  9. Dispute Resolution Clause

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