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The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.
The Bargain and Sales Deed is a legal document that serves as evidence of the transfer of real property from the grantor to the grantee. This document is entered into between two parties, namely the grantor and the grantee. The grantor is the party who currently owns the property and wishes to transfer ownership, while the grantee is the party who will receive the property.
The document begins with a preamble that states the date of the agreement and identifies the grantor and grantee by their names and addresses. It also mentions the consideration, which is the amount of money or value exchanged for the property. The grantor acknowledges the receipt of this consideration.
The main body of the document contains the conveyance clause, which states that the grantor conveys and warrants the real property to the grantee. It specifies the location of the property and includes a description of the property and any improvements or appurtenances that are included. The grantee is granted full rights and ownership of the property, including all rights and appurtenances.
The document also includes representations and covenants made by the grantor. The grantor represents that they are the lawful owner of the property and have the authority to sell and transfer it. They also covenant to defend the title to the property against any claims or demands.
The document concludes with the execution section, where the grantor and grantee sign and seal the document in the presence of witnesses. The witnesses' names and signatures are also included. The document may also require notarization, where a notary public acknowledges the signatures.
In summary, the Bargain and Sales Deed is a legally binding document that facilitates the transfer of real property from the grantor to the grantee. It includes important details such as the parties involved, the consideration, the property description, representations and covenants, and the execution section.
1. Enter the necessary information: Fill in the names and addresses of the grantor and grantee in the agreement. Make sure to accurately identify both parties.
2. Specify the consideration: State the amount of money or value exchanged for the property. This ensures that the transaction is properly documented.
3. Describe the property: Provide a detailed description of the real property being transferred, including any improvements or appurtenances. This helps to clearly identify the property.
4. Grant full rights and ownership: Clearly state that the grantor conveys and warrants the property to the grantee, granting them full rights and ownership. This ensures that the transfer of ownership is properly documented.
5. Make representations and covenants: Include representations by the grantor that they are the lawful owner of the property and have the authority to sell it. Also, include a covenant to defend the title against any claims. This provides assurance to the grantee.
6. Execute the document: Have both the grantor and grantee sign and seal the document in the presence of witnesses. Ensure that the witnesses' names and signatures are included. Consider notarizing the document for added validity.
Note: It is important to consult with legal professionals to ensure compliance with local laws and regulations when using the Bargain and Sales Deed.