A sale deed is a legal document used in property transactions as evidence for sale and transfer of ownership of property in favour of the buyer from the seller.
A sale deed, also known as the final deed or conveyance deed, is an instrument in writing which legally transfers the ownership rights of a property from one person to another in exchange of a price paid/consideration. It is made for the sale or purchase of land or any construction made on it. The person who is transferring the property is known as the transferor or seller while the person paying an amount to get the property is called the transferee or buyer.
The document lays down the details of the parties, the final deal price of the property, the accepted mode of payment and the time for handing over the possession of the property along with the original documents. It also acts as a proof that the buyer is the outright owner of the said property.