AGREEMENT TO SELL AN UNDIVIDED SHARE
- PARTIES AND TRANSACTION
This agreement is made on 1 April 2026 between Harpreet Singh, of House 118, Sector 35-A, Chandigarh, and Aarav Sharma, of House 211, Sector 21, Panchkula.
The subject matter is an undivided share in House 52, Sector 8, Chandigarh, not a separately partitioned parcel.
Seller capacity: Sole owner. Possession when signed: Seller in possession.
- PRICE AND PAYMENT
The total sale consideration is ₹2,50,00,000 (Rupees Two Crore Fifty Lakh only). Earnest/token money is ₹25,00,000 (Rupees Twenty Five Lakh only), leaving balance consideration of ₹2,25,00,000 (Rupees Two Crore Twenty Five Lakh only).
Payment mode: Bank transfer. Payment schedule: ₹25,00,000 on signing; balance on registration after title conditions are satisfied..
Tax withholding: Buyer will deduct and deposit tax where the applicable income-tax provision requires it.
- TITLE, DOCUMENTS AND DILIGENCE
Seller relies on the following title/allotment/conveyance record: Sale Deed no. 1842 dated 12 June 2018, Chandigarh.
Diligence position: Buyer will complete title diligence before the stated diligence deadline. Objections should be raised by 2 April 2026.
Encumbrance covenant: Seller will convey free from undisclosed mortgages, charges, liens and third-party rights.
Dues: Seller clears dues attributable to the period before completion.
- SHARE BEING SOLD
Undivided share: 25% in the whole property described as Residential house measuring 500 sq yd at Sector 8, Chandigarh.. Basis: Co-ownership under registered title.
Exclusive-possession position: No exclusive physical portion is conveyed by this agreement.
- CO-OWNER POSITION
Co-owner consent/notice: Buyer will independently verify any consent/pre-emption/contractual restriction affecting transfer.
Common expenses: Buyer assumes the proportional share of common expenses from completion.
- PARTITION AND POSSESSION
Partition expectation: Buyer acquires only the undivided share and no partition outcome is promised. Physical handover: Seller delivers symbolic/joint possession consistent with the undivided share.
The buyer is not promised title to a particular room, floor or physically marked portion merely because the seller has been using that area. Any legal partition requires its own valid instrument/process.
- DISCLOSURE OF CO-OWNERSHIP RISKS
The buyer should examine the parent title, co-owner shares, possession arrangements, litigation and any restrictions before completion. The sale consideration is for the undivided interest described, not for an assumed future partition result.
- COMPLETION AND CONVEYANCE
The parties will complete the sale and execute/register the required conveyance by 3 April 2026, subject to the conditions stated in this agreement.
Section 54 of the Transfer of Property Act, 1882 treats a contract for sale as an agreement that a sale will take place on settled terms; the contract does not by itself create an interest in or charge on the property. The final transfer of ownership must occur through the legally required conveyance/registered instrument.