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Home Owners Contract for India

Home Owners Contract Template for India

A comprehensive legal document governed by Indian property law that establishes the terms and conditions of residential property ownership and transfer. This contract outlines the rights and obligations of both the seller and buyer, incorporating requirements from various Indian legislations including the Transfer of Property Act, RERA, and relevant state laws. It covers essential aspects such as property specifications, payment terms, possession details, maintenance responsibilities, and usage rights, while ensuring compliance with local municipal regulations and registration requirements.

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What is a Home Owners Contract?

The Home Owners Contract is a fundamental legal document used in Indian residential real estate transactions, essential for establishing clear property ownership rights and responsibilities. This document is primarily used when purchasing residential property in India, whether it's an apartment, independent house, or plot. It incorporates provisions from key Indian legislation including the Transfer of Property Act 1882, Registration Act 1908, and Real Estate (Regulation and Development) Act 2016 (RERA). The contract serves to protect both buyer and seller interests by clearly defining property details, payment terms, possession conditions, and maintenance obligations. It's particularly important in the Indian context where property laws vary by state and multiple regulatory frameworks need to be considered.

What sections should be included in a Home Owners Contract?

1. Parties: Details of the seller/builder and buyer(s), including full legal names, addresses, and PAN numbers

2. Background: Context of the transaction, including brief property history and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including exact measurements, boundaries, and registration details

5. Consideration: Purchase price, payment terms, and schedule of payments

6. Possession: Terms and conditions for property possession and handover

7. Representations and Warranties: Seller's declarations regarding property title, encumbrances, and legal status

8. Rights and Obligations: Detailed rights and responsibilities of both parties

9. Title and Ownership: Clear statement of property title transfer and ownership rights

10. Maintenance and Repairs: Responsibilities for property maintenance and repairs

11. Property Usage: Permitted uses of the property and any restrictions

12. Taxes and Outgoings: Responsibility for property taxes, utility charges, and other expenses

13. Default and Remedies: Consequences of breach and available remedies

14. Governing Law: Applicable laws and jurisdiction

15. Dispute Resolution: Process for resolving disputes between parties

16. Notices: Method and addresses for official communications

17. Execution: Signature blocks and witnessing requirements

What sections are optional to include in a Home Owners Contract?

1. Common Areas: For properties in complexes or societies - details of shared facilities and usage rights

2. Parking: When dedicated parking spaces are included - details of parking rights and restrictions

3. Club Membership: If applicable - terms of included club or recreational facility membership

4. Power of Attorney: When property dealings are through power of attorney - details of authorization

5. Mortgage Clause: If property is being purchased through bank financing - mortgage terms and conditions

6. Society Rules: For apartments/societies - incorporation of society rules and regulations

7. Construction Quality: For newly constructed properties - specifications and quality guarantees

8. Amenities: When special amenities are included - details of provided facilities and services

What schedules should be included in a Home Owners Contract?

1. Schedule A - Property Description: Detailed technical description of property including measurements and boundaries

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, installments, and due dates

3. Schedule C - Specifications: Construction specifications, materials used, and finishing details

4. Schedule D - Amenities List: List and description of all included amenities and facilities

5. Schedule E - Title Documents: List of all property title and ownership documents

6. Schedule F - Encumbrances: Details of any existing encumbrances, loans, or liens

7. Appendix 1 - Floor Plans: Architectural drawings and floor plans

8. Appendix 2 - Location Map: Property location and surrounding area details

9. Appendix 3 - Completion Certificate: Municipal approval and completion certificates

10. Appendix 4 - Previous Titles: Chain of titles and previous ownership details

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions








































Clauses
































Relevant Industries

Real Estate

Residential Property

Construction

Legal Services

Banking and Finance

Property Management

Urban Development

Housing Development

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Documentation

Sales

Customer Relations

Construction Management

Title and Registration

Contract Administration

Relevant Roles

Real Estate Lawyer

Property Developer

Construction Manager

Legal Counsel

Property Manager

Real Estate Agent

Compliance Officer

Title Officer

Housing Society Manager

Property Registration Officer

Real Estate Documentation Specialist

Contract Administrator

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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