Karnataka RERA notified the model purchase contract after nearly three years. The document makes it clear that homebuyers can request a refund and also stop paying in the event of a developer default. It requires that the sales contract be registered in the sub-shelter after signing by the owner and the buyer. A sale agreement is an instrument by which the seller agrees to transfer the property to a buyer if certain conditions are required, but does not create the buyer`s property on the property. A sale agreement is an agreement in which the seller promises to transfer the future ownership of the property to certain conditions. The agreement should cover the modalities of gradual development or mixed development, since the proponent may have given assurances that it will provide specific facilities and equipment that can be common to all phases and that can be integrated at the end of the overall development. Therefore, we can say that the provisions of the RERA Act 2016 apply as a priority to the Registration Act 2016 only with respect to the sale agreement. In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS. In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b). An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required.
This question arises because the registration of documents is usually made to guarantee a clear right and ownership of the property to the buyer. A sale agreement as such does not constitute a clear property of the property.