Residential apartments in Hyderabad buyers must understand the process of buying real estate. A sale deed and title deed are two terms you’ll encounter during the property buying and ownership process. Many new buyers think of a sale deed and title deed as the same, which isn’t the case.
In a nutshell, a sale deed is a document, while a title deed is a concept. Stay tuned, as we delve deep into the difference between a sale deed and a title deed.
What Is a Sale Deed?
A sale deed is a legal document showing the transfer of property ownership, title, and rights from the seller to the buyer. It acts as legal proof that the buyer has bought the property in Hyderabad from the seller, and now the seller is the property owner. The document is legally binding, and the buying/selling of a property isn’t considered complete until the buyer and seller sign the sales deed.
What Is a Title Deed?
When a sale deed is signed, the property’s title is transferred to the new owner. This concept of giving the property title to a new owner is known as a title deed. The title deed is a credential that gives the new property owner a bunch of rights, such as:
• Contracts for sale
As discussed, the title deed isn’t in a documentary form like a sale deed. You can think of it as a bunch of rights the property owner gets after they sign the sales deed. So, the title deed is a result of the sales deed.
What Is the Difference Between Sale Deed and Title Deed?
Having discussed the meaning of the two terms, let’s now delve into the differences. Let’s first look at the general difference between the two terms, and then we’ll look into the legal differences.
The biggest difference between a sale deed and a title deed is that the title deed is a concept, and a sale deed is a document that translates that concept into legal reality. The title deed is just a realization that a person is the property owner.
From a legal perspective, a sale deed is an agreement, while a title deed is a statement. A sale deed legally proves that the buyer is the property owner. It also contains information like the terms and conditions of the deal. Since a sale deed is a legal agreement, it needs to be registered in the sub-registrar’s office.
No such provisions are there for a title deed. It speaks about the ownership of a property and the rights and obligations of the owner. However, it isn’t a legal agreement, and it can’t exist without a sales deed or any other legally verified transfer of property rights.
What to Do When Buying Residential Apartments in Hyderabad?
Now, you may be thinking about whether you should get a sale deed, title deed, or both when buying homes for sale in Hyderabad. The answer is simple. There is no title deed document, and hence, you don’t have to obtain it. A sale deed is the only legal document you should get signed. Once that happens, the property’s title deed automatically transfers to your name. Please note that a title deed is also applicable if the property transfer happens in other forms, like an exchange, mortgage, or gift.
A title deed and a sale deed are two very similar, and thus, confusing terms. A sale deed is a legal document that provides that you are the property owner. A title deed is simply the property ownership you get when you get a sale deed. So, obtain a sale deed when you buy residential apartments for sale in Hyderabad, and you’ll receive the title deed automatically.
2BHK and 3BHK apartments in Hyderabad buyers should contact Poulomi Real Estate Pvt. Ltd.
Established in 2005, with headquarters in Hyderabad, Telangana, India – Poulomi is a leading real-estate and infrastructure projects development company. Leading providers of residential apartments, commercial and infra projects and delivering outstanding projects with timely execution. Approaching towards standards of ISO 14001:2004, 9001:2008 and OHSAS 18001:2007 certifications, Poulomi is renowned for extensive knowledge and experience, technological advancements, superior safety and commitment to deliver. Trusted by clients, Poulomi promises – Peace of Mind. For more details on our ongoing and upcoming projects, please contact: Mobile: +917070704444, email: firstname.lastname@example.org