However, it is not mandatory. You can also write the act yourself. Real estate contract formats in Pakistan are readily available online. You can find them on the Portal of the Punjab Land Record Authority Registration of Deeds. Only the person who can sign a contract can legally transfer the property to Pakistan. Under the Contracts Act of 1872, a contract is “a binding agreement between two parties.” The token is usually followed by a Bayana. This instrument serves the same purpose as the token. Unlike the latter, it makes things a little more official, as it is usually coupled with a written agreement. DHA Karachi is a popular housing company. It recommends that sellers include in the contract a special clause that if the buyer does not make the remaining payment within the due date, the seller can collect the advance. Similarly, if the seller refuses to transfer the property, they will be obliged to return double the advance received (bayana).
It depends on the sale if it is on the terms and terms of the hello agreement. I am a land seller in DHA and I have a 50K token from a buyer by a merchant. The merchant never signed any conditions on his office letterhead. He just shared the 50K deposit ticket with me. I also sent him my copy of NIC and forms to have DHA`s property checked. DHA did not verify this because the signature did not match its registration. In the meantime, I received a better offer from another buyer. Can I cancel the first deal and return the token money because I didn`t have a written agreement and I sell it to the new buyer? According to DHA Karachi`s guidelines, even if the sellers sign the agreement before the designated DHA, they own the property unless the documents are officially transferred. In the event of a dispute with the buyer, the property can be re-validated on your behalf within the allotted time. However, you cannot claim the property if you have transferred the documents to the buyer. For more information, you can also take a look at how to sell and buy real estate in Pakistan. So what is token money? Tokens is a small amount of money that must be paid by the buyer in reference to a serious intention to buy a property.