Legaljini

Agreement for sale of future goods

This agreement is made by the seller in favour of buyer for the sale of the machinery manufactured by the seller and a future requirement of the goods (machinery) of the buyer for the production purpose. Sale agreement is an instrument by which any person/firm/company/government [Seller] agrees to transfer the ownership of certain properties to any person/firm/company [Purchaser] in exchange for a price promised to pay or part paid and part promised to pay, as the case may be, upon fulfillment of certain terms and conditions. This agreement is made by the seller in favour of buyer for the sale of the machinery manufactured by the seller and a future requirement of the goods (machinery) of the buyer for the production purpose.

₹ 575.00

1

What is a sale?

Ans.

Sale is the transfer of ownership of a property in exchange of a price paid or promised to be paid or partly paid and partly promised to be paid.

2

What are the major components of a sale?

Ans.

1. There must be a transfer
2. The transfer must be of the full ownership
3. There must be some consideration
4. The consideration can be paid or can be promised to be paid in future.

3

Is it mandatory to execute a deed of conveyance in case of a sale?

Ans.

Yes, the Transfer of Property Act, 1882 mandates every vendor to execute a deed of conveyance in favor of the purchaser or any other person as directed by the purchaser.

4

What formalities should be completed for executing a sale deed or a transfer document?

Ans.

Each State has its own set of forms to be filled and filed during Registration of Sale Deed/Transfer Deed. Purchaser and Seller should give their Permanent Account Numbers. After sale, either party should fill Form 60 of the Income-Tax Rules. When either party is an NRI, he should fill Form 60 only.

5

How much is the Registration Fees on sale of immovable property?

Ans.

The registration fee in case of sale of immovable property is 1% of the market value or Rs. 30,000, whichever is lower. There could be some additional charges for scanning of documents where the office of the Sub Registrar has been computerized. The rate is subject to amendment upon the discretion of the concerned State Government.

 

STEP 1

Fill in the blank spaces. Delete instructions highlighted in grey.

Fill in the blank spaces. Delete instructions highlighted in grey. E.g. Name, address, date etc.

 

 

 

STEP 2

Alternations: 

Add or delete a clause according to your needs. Re-check the document.

 

 

 

STEP 3

Stamp Paper

The Stamp Duty value will be made available to you at your legaljini account on purchase of the document.

 

Stamp Duty Payment option 1

If you wish to print Agreement on Stamp Paper, you can buy from court/ Stamp office and said Stamp paper will be used as 1st page of Agreement. If you wish to have 2 copies of Agreement you should buy 2 Stamp Papers (one Stamp Paper for each copy)

 

Stamp Duty Payment option 2

If you have facility of franking for Stamp Duty payment at nearest bank, you need to print the Agreement & get franking done. If you wish to have 2 copies of Agreement you should frank 2 copies (one copy for each party)

 

 

 

 

Ledger Paper

The rest of the document must be printed on SINGLE SIDES OF A SHEET of Ledger Paper

 

Available at:

This Legal Size Green Paper is available at any stationery shop.

 

 

 

STEP 4

Printing on Legal Paper:

 

 

On Stamp Paper

Print ONLY on the blank portion of the stamp paper.

 

On Ledger Paper

Print on a SINGLE SIDE of a sheet of Ledger Paper.

 

 

 

STEP 5

Number of Copies Needed:

Generally executed in Duplicate and duplicate is also required to be stamped accordingly.

 

 

 

STEP 6

Photographs & Signatures/ Thumb Impression & Initials:

The concerned parties should put their initials or marked by the concerned parties at the end of each and every page and also next to corrections/alterations made if any and give their full signature along with thumb impression across the recent passport size photographs stick against their respective names

 

 

 

STEP 7

Witness Attestation (Both Parties):

Document must be attested by at least two witnesses along with their recent passport size photographs and copy of ANY ONE as Photo ID proof like Driving License, Election ID Card, and PAN Card etc.

 

 

 

STEP 8

Registration/ Notary

Registration or Notary is mandatory for some documents. If you need clarification you may contact our Helpline at support@legaljini.com 

 

 

Please contact the nearest Sub Registrar office for registration of this document.

 

 

 

You Need to Know:

N.A.

 

 

 

Please contact our Helpline if you have any difficulty.