“Locked-in property can only be transferred by a transport permit (deed of sale), duly stamped and registered legally. We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation. In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the sale is the actual transfer of the buyer`s property. Although the signing of the sale agreement does not mean that the sale has been completed, it is a decisive step in that direction. For this reason, buyers must be fully aware of the terms and conditions set out in the agreement. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. Section 25 of the BS Act imposes stamp duty, which must be paid on a deed of transport relating to personal property and/or buildings. However, the BS Act expressly provides that when an agreement to sell a property results in the transfer of ownership of that property before or after the execution, the same applies as a right of transport and stamp duty. The BS act also provides an exception in the event that the “sale agreement” is considered transport. When the BTA itself transfers the property and real estate that make up the business, which results in the document being duly stamped as transport in accordance with Section 25 of the BS Act, the stamp duty paid on that agreement is appropriate for the total stamp duty levied on the deed of transport.
The BS Act follows a system similar to that of the IS Act, with Article 5 of its list imposing stamp duty on an instrument that is an “agreement or its records or memorandum of agreement”. It should be noted that Article 5, point h), point (a) (iv) explicitly contains an agreement which: a) creates any obligation, right or interest; b) has a monetary value; (c) are not under any other provision of the BS Act. The KS Act departs from the BS and IS law, taking into account the specific provisions relating to the transfer of property and real estate within the meaning of Article 5 of the KS Act. Art. 5 E-Buchstabe e KS-Gesetz imposes stamp duty levied on an agreement to sell land with partial execution of the contractual contract. When the property is delivered or agreed before the transport is carried out, the prescribed stamp duty is in accordance with the section 20 obligation with respect to a deed of transport. Like the BS Act, the KS Act also provides a basis for calculating stamp duty on the tax paid on the transport record. If ownership of the property is not delivered, the responsibility for the stamp is limited to these agreements at twenty thousand INR.
In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale.