AGREEMENT TO SELL WITH INSTALMENT TERMS
Signed at __________ on __________.
BETWEEN
__________, __________, of __________ (the "Seller")
AND
__________, __________, of __________ (the "Buyer")
Where more than one person is named as Seller or as Buyer, each of them is bound by this agreement jointly and separately, and each must sign it.
- 1. THE PROPERTY
- 2. THE PRICE AND THE INSTALMENTS
Where the law requires the Buyer to deduct tax at source from a payment, the Buyer will deduct it, deposit it within the time allowed and give the Seller the certificate. The tax so deposited counts as payment of that much of the price.
- 3. POSSESSION BEFORE THE SALE DEED
From that date the Buyer will pay the property tax, electricity, water, sewerage and maintenance charges, will keep the Property in good repair, and will not sell, sub-let, mortgage or part with it, or make structural changes to it, without the Seller's written consent. The Seller will not sell, mortgage or create any right over the Property in favour of anyone else while this agreement is in force.
- 4. THE SALE DEED
- 5. IF THE BUYER STOPS PAYING
- 6. IF THE SELLER FAILS TO GO THROUGH WITH THE SALE
If the Buyer has paid as agreed and the Seller does not sign the sale deed, or sells or charges the Property to anyone else, the Buyer may ask the court to make the sale go through, or to order the Seller to refund everything paid with interest and to pay compensation for the loss, as the law allows.
- 7. REGISTRATION OF THIS AGREEMENT
Because possession is given to the Buyer under this agreement, the parties will present it together for registration to the Sub-Registrar who has jurisdiction over the Property within the time allowed. This agreement is governed by Indian law, and the courts at __________ have jurisdiction over it.
SIGNED BY THE PARTIES
Seller: __________
Buyer: __________