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Documents requested by the Title Registry Offices. |
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Sales: A sale is the transfer of a property to another party in return for a specified value. There are two elements in a sales contract. These are; the immovable estate sold and the value of the sale. The value is decided upon between the parties. The value may be low or high. The Title Registry Office does not have the authority to interfere with the question of whether the amount is low or high. But, the Title Deed Registry Office reminds to the parties in a written format on the Title Deed, upon comparing the Sales Value to Real Estate Declared Value Ratio., that if the declared value is found to be lower than value determined, the difference shall be collected from the parties and a penalty will incur in accordance with Taxation Methods Law. If the declared value is exceedingly low, the Title Registry Authority shall not refrain from taking appropriate action. If there is a request by the seller, a lawful mortgage may be established over the remaining of sales value. The seller may not be forced to declare that the seller has been paid all of the sales value. The matters conserning the payments relating to the sales value shall be declared on a separate, legally valid documentdrafteds by the parties. Such matters can not be registered in the Title Deed Registry.
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