SATAKHAT

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                  WHAT IS SATAKHAT?

SATAKHAT

The Satakhat is a vernacular word for the agreement where by the executor agrees to sell but not exactly sells the property it is always an agreement to sell under certain terms and conditions. If it is registered the other party can not sell it to any third party without taking NOC from the other party of the Satakhat. Mostly in cases of the Loan the repayment is guaranteed by the satakhat against any property where in case the repayment of loan dues is not done by any cause the loan amount can be derived out of the Satakhat Property. It\'s enforcement is depend on the terms and conditions which are mentioned in it and the time is the essence of these agreements to sell.

Where by the sale deed is a deed of instant sale against a consideration amount and physically handing over the possession of the property to the purchaser which is an essential ingredient of the sale deed.

 

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