Sale [Sections 54 — 57]

You pay a token amount for a flat in Kharghar, the builder gives you a receipt, and you start telling relatives it is yours. Is it? Not yet. A promise to sell and a completed sale are two different legal events, and only one of them makes you the owner. Section 54 of the Transfer of Property Act 1882 draws that line, and the sections after it say who owes what to whom while the deal is still half-finished.

In two minutes

A sale is a transfer of ownership of immoveable property for a price paid or promised; it is complete only through a registered instrument (for property worth ₹100 or more), and a mere contract for sale creates no interest in the property.

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