An unregistered agreement to sell evidence is a written agreement between the seller and the buyer regarding the sale of a property. It is an important document that outlines the terms and conditions of the sale, including the price, mode of payment, and delivery date.
However, an unregistered agreement to sell evidence may not be legally binding, especially in case of any dispute between the parties involved. As per Indian law, an unregistered agreement cannot be used as evidence in a court of law.
To avoid any legal complications, it is recommended that the agreement be registered with the local sub-registrar`s office. Registration of the agreement ensures that the document can be used as evidence in a court of law and provides legal protection to both the buyer and the seller.
Registration of an agreement involves the payment of a stamp duty and registration fee, which is calculated based on the value of the property being sold. The stamp duty and registration fee vary across different states in India.
It is important to note that an unregistered agreement to sell evidence cannot be used for obtaining a loan or any other financial assistance. Financial institutions require a registered sale agreement as proof of ownership of the property.
In conclusion, it is highly recommended to register the agreement to sell evidence to avoid any legal complications in the future. Registration provides legal protection to both the buyer and the seller and ensures that the agreement can be used as evidence in a court of law.