This sale of immovable property is nothing but the transfer of ownership in exchange for a price paid or promised or partly paid or partly promised.it deals with the rights and duties of buyer and seller. in this sale of immovable property there are three requirements of laws that transfer of property by sale must take place with the help of validly executed sale deed ,by the transferor in writting is properly attested and registered.
In the case of tangible immovable property for example if we take the value which is morethan 100 rupees then this transfer can be made by only registered instrument. in the same example suppose if we take the value which is less than 100 rupees then this transfer may be either registered instrument or by the delivery of the property. this delivery of tangible immovable property takes place when when the seller places the buyer.
There are some essential elements for the sale of immovable property:
PARTIES: In this element there must be atleast 2 parties involved.which is the person who transfers his property is known as the transferor. and the person to whom the property is transfered is known as the transferee.
SUBJECT MATTER OF THE SALE: immovable property includes the benefits arrising out of land and the things attached to the earth except for standing timber, growing crops and grass.
PRICE OR CONSIDERATION: the price paid and the price promised to stand on equal footing as regards of the transaction of a sale there is nothing illegal, or contracy to public policy if the parties agree that the payment of the consideration shall be postponed in certain events.
REGISTRATION: the execution and registration of the sale deed, the ownership and all the intrests in the property pass to the transferee, yet that would be on terms and conditions embodied in the dead indicating the intention of the parties.
CONVEYANCE: there are 2 types in this conveyance. they are delivery of possession and the registration of the sale deed.
A.Delivery of possesion: this delivery of tangible property takes place when the sellers puts the buyer or such person as the buyer directs in the possession of the property.
B.Registration of sale deed: where the property is intangible immovable property of any valuation, it will require registration for completion of sale.