Comment on the following statements: (a) Terms and Conditions in the Agreement to Sell/Purchase.

Terms and conditions in the Agreement to Sell / Purchase The vendor has a marketable title in the property agreed to be sold / purchased and that the vendor has produced the title deeds relating to the property to the purchaser for his inspection or in any other manner, must be specifically stipulated between the parties to the agreement. If the property agreed to be sold is a part of a larger property, an agreement as to retention of a particular or all the title deeds to the property by a party should be arrived at and incorporated in the agreement to sell / purchase. If the property is subject to any prior charge or encumbrance, the parties must agree that the sale is to be subject to such encumbrance or price payable under the agreement including the sum due under the encumbrance and is required to be paid to the charge holder at the time of registration or thereafter. The mode of payment of the price or the balance thereof, if some earnest money or deposit has been paid, should also be stipulated in the agreement. It should also be clearly stated whether the vendor or the purchaser shall be liable to pay rates, rents, taxes or other imposts for the period commencing from the date of execution of the agreement to sell / purchase till the execution of the conveyance deed. The parties should agree as to the point of time when possession of the property should be handed over by the vendor to the purchaser, if the vendor is in possession or how the atonement by the tenant(s), if the possession is to be effected. The parties should also agree as to who shall bear the cost and expense of execution and registration of the sale deed and if both the parties have to bear the same, in what precise proportions they shall bear. If any broker is involved in the transaction, the agreement should clearly spell out if any brokerage is payable and by whom and at what rate, and at what point of time.