An "agreement to sell" is a legal contract between two parties, typically a buyer and a seller, outlining the terms and conditions for the future sale of a property or goods. In this agreement, the seller agrees to sell a specific asset, and the buyer agrees to purchase it at a later date, subject to certain conditions being met.
Key points about an agreement to sell include:
1. Future Transaction
2. Conditions Precedent
3. Title Transfer
4. Legal Implications
5. Payment Terms
6. Default and Consequences
7. Registration
Once the conditions mentioned in the agreement are met, a sale deed is executed, completing the transfer of ownership. Until then, the agreement to sell acts as a legally binding commitment between the parties.