Model Agreement of Sale of Immovable Property
Model Agreement of Sale of Immovable Property
Model Agreement of Sale of Immovable Property
THIS AGREEMENT OF SALE executed on the 28 day of July 2014 between P.uma Shankar-1
son of Mr. Periyasamy resident of 33/30E , Meenatchinagar, Tvs colony , Salem taluk-636007,
Salem district,(Election Identity card No:LVY4308953) (Mobile no:9842256262)and his wife Mrs.
amutha-2 (Election identity no:LVY4308946)(Mobile no:9942977315).
hereinafter called the "Vendor" of the one part and P son of PF resident of......................
hereinafter called the "Purchaser" of the other part.
(The expression "Vendor" and "Purchaser" wherever they occur in these presents, shall also mean
and include their respective heirs, executors, administrator, legal representatives and assigns).
WHEREAS the vendor is the sole and absolute owner of the property more fully set out in the
Schedule hereunder:
AND WHEREAS it is agreed that the vendor shall sell and the purchaser shall purchase the said
property for the sum of Rs....................... (Rupees in words) free of all encumbrances.
9. If the purchaser commits a breach of the Agreement, he shall forfeit the earnest amount of
Rs...................... (Rupees......................) paid by him to the vendor.
10. If the vendor commits a breach of the Agreement, the vendor shall not only refund to the
purchaser the sum of Rs................. (Rupees......................) received by him as earnest money, but
shall also pay to the purchaser an equal sum by way of liquidated damages.
11. Nothing contained in paras 9 and 10 supra shall prejudice the rights of the parties hereto, to
specific performance of this Agreement of sale.
1. Any dispute, controversy or claims arising out of or relating to this Agreement or the
breach, termination or invalidity thereof, shall be settled by arbitration in accordance
with the provisions of the [Indian] Arbitration and Conciliation Act, 1996.
2. The arbitration shall be by the Sole Arbitrator appointed with mutual consent.
3. The place of arbitration shall be at ……………… and any award whether interim or
final, shall be made, and shall be deemed for all purposes between the Parties to be made
in ……………………..
4. The arbitral procedure shall be conducted in the English/Kannada language and any
award or awards shall be rendered in English/Kannada. The procedural law of the
arbitration shall be Indian law.
5. The award of the arbitral tribunal shall be final, conclusive and binding upon the Parties,
and the provisions of the [Indian] Arbitration and Conciliation Act, 1996 shall apply.
6. The rights and obligations of the Parties under, or pursuant to, this Clause, including the
arbitration agreement in this Clause, shall be governed by and be subject to Indian law,
and the agreement shall be subject to the exclusive jurisdiction of the courts at
_____________. (place to be named as per the agreement between the parties)
3
(Schedule of Property)
IN WITNESS WHEREOF the vendor and the purchaser have set their hands to the Agreement of
sale on this the..................day of...................... 2007 in the presence of the witnesses:
Witness: Vendor
Witness: Purchaser