According to the transfer of property act, you need to consider some sections while planning to sell your property. Further, you need certain documents ready before you start the procedure of selling a house. You can sell or buy a house or property at https://www.homebuyingguys.com/arizona/phoenix/. Here in this article, we will look at some points while buying or selling a property.
Points to remember:
- Sales can be in two ways:
- The sales through a registered instrument in which the value of the tangible immovable property is rs.100, more than that, in case of a reversion or any other intangible thing.
- Tangible immovable property values are less than rs. 100 and the sales can be made through the delivery of possession.
- Two parties to sales
- Transferor: a person who transfers their property in the name of another is known as a transferor.
- Transferee: a person to whom the ownership or title is conveyed is known as a transferee.
- Duties of a seller before sales:
- The seller should disclose the materials which defect to the buyer.
- The seller should produce all the necessary documents related to the property.
- The seller must answer all the questions in front of them related to the property.
- The seller must hand over the property within the agreed date.
- The seller should pay all the charges for rent, electricity, water, etc. before the sale date.
- Duties of a seller after sales:
- It is the seller’s duty to give possession after the completion of the sales.
- After the delivery of full settlement to the seller, the seller must submit all the necessary documents and settle the property as soon as possible.
Finally, you can sell or buy a property at https://www.homebuyingguys.com/arizona/phoenix/. Follow all the rules and regulations legally while registering a property. Seller and buyer both must follow all the necessary rules. Gather more information from the website https://www.homebuyingguys.com/arizona/phoenix/.