A Sale Deed document is a title deed legal document that outlines the transfer of ownership or rights to a property or asset between two or more parties. It is an essential part of property transactions, such as buying, selling, gifting, or inheriting real estate. The deed document acts as formal evidence of the transaction and legally binds the parties to the terms mentioned in the agreement.
Types of Title Deed Documents in Telangana:
Sale Deed:• The most common type of deed, it is executed when a property is sold from one party to another. It includes details such as the sale price, buyer and seller information, and property description. The sale deed must be registered at the sub-registrar’s office to make it legally valid.
Gift Deed:• Used when the property is transferred as a gift from one person to another without any monetary exchange. The gift deed must also be registered to be legally enforceable.
Conveyance Deed:• A general term for a deed that transfers property ownership, which can include a sale deed, gift deed, or exchange deed. It ensures the legal transfer of rights from the seller to the buyer.
Lease Deed:• Used when a property is leased for a specific period. It includes the lease duration, rent amount, and other terms agreed upon by the parties.
Partition Deed:• Executed when co-owners of a property agree to divide the property among themselves. The deed specifies how the property is divided and allocated to each owner.
Mortgage Deed:• Created when a property is mortgaged to secure a loan. It provides the lender with a legal claim over the property until the loan is repaid.
Power of Attorney Deed:• Grants legal authority to another person to act on behalf of the property owner, especially for the sale or management of the property.