Agreement to Sell by Joint Owners in Favour of Company - Office Premises Already Leased to Bank — Format & Free Sample (₹49)
Sell your bank-leased office premises to a corporate buyer with an agreement that manages corporate due diligence, ensures lease continuity, and validates company purchase authority.
Agreement to Sell by Joint Owners in Favour of Company - Office Premises Already Leased to Bank
- Editable .docx — open in Word, Google Docs, or Pages
- All clauses pre-drafted, only fill in your details
- Includes notes on stamp duty & registration
- Instant download after payment + WhatsApp copy
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Full editable Word file is delivered after payment. This preview shows the structure and language style.
AGREEMENT TO SELL OFFICE PREMISES BY JOINT OWNERS TO COMPANY
This Agreement to Sell is executed on this ____ day of ____, 20__ at ____.
BETWEEN
Mr./Ms. ____, S/o / D/o ____, R/o ____, hereinafter referred to as the “SELLER” of the FIRST PART;
AND
Mr./Ms. ____, S/o / D/o ____, R/o ____, hereinafter referred to as the “PURCHASER” of the SECOND PART.
WHEREAS _______ and _______ are joint owners of office premises situated at _______ which are already let to _______ Bank vide Registered Lease Deed dated _______
WHEREAS _______ Company desires to purchase the said office premises and the joint owners are willing to sell to the said Company
NOW THIS AGREEMENT WITNESSETH AS UNDER:
1. Joint Owners' Authority
Both joint owners hereby confirm their authority to sell the property and execute this agreement. Both acknowledge that the office premises are equally owned and both consent to the sale to the company buyer.
3. Company Buyer Authority
The company buyer exhibits its Board Resolution dated _______ authorizing the purchase. The company confirms its registration, good standing, and financial capacity to complete the purchase.
6. Bank Lease Assumption and Approval
The company buyer shall assume all lessor obligations under the existing lease. The company shall obtain the bank's approval for the ownership change. The bank's consent is a condition precedent to completion.
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Key Highlights from This Document
Joint Owners' Authority
page 1
Both joint owners hereby confirm their authority to sell the property and execute this agreement. Both acknowledge that the office premises are equally owned and both consent to the sale to the company buyer.
Company Buyer Authority
page 2
The company buyer exhibits its Board Resolution dated _______ authorizing the purchase. The company confirms its registration, good standing, and financial capacity to complete the purchase.
Bank Lease Assumption and Approval
page 3
The company buyer shall assume all lessor obligations under the existing lease. The company shall obtain the bank's approval for the ownership change. The bank's consent is a condition precedent to completion.
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When this Bank-Leased Office - Company Buyer Agreement applies
Joint individual owners selling office premises already leased to a bank to a company buyer. The sale involves corporate board authorization and lease assumption.
Who needs this template
- Individual property owners selling to companies
- Companies acquiring commercial properties
- Bank lessees acquiring ownership of leased premises
- Real estate investors divesting to corporates
When you should use it
- For sales to corporate or company buyers
- When bank-leased property transfers to company
- If buyer requires corporate board resolutions
- To document company purchase authority
Why a generic sale agreement is risky here
The free formats floating around online are written for a generic sale of property. They miss the specifics that make a bank-leased office - company buyer transaction defensible in court. Specifically:
- Corporate buyer authority verification is frequently omitted
- Company transaction formalities are often inadequately addressed
- Bank approval for corporate lessor change is frequently missed
- Corporate liability and lease assumption clauses are often incomplete
Clauses included in the editable Word file
Every clause is pre-drafted. You only fill in the blanks (names, addresses, amounts, dates) — no legal writing needed.
- 1Joint owners' declaration and consent
- 2Company buyer's authorization and board resolution
- 3Existing bank lease and tenant continuity
- 4Bank approval for ownership change to company
- 5Lease assumption and corporate liability
- 6Rent collection and income allocation
- 7Company registration and corporate compliance
- 8Indemnity for lease and corporate-related disputes
Agreement to Sell vs Sale Deed — what’s the difference?
| Aspect | Agreement to Sell | Sale Deed |
|---|---|---|
| Effect on ownership | Future promise — does not transfer ownership | Actual transfer of ownership |
| Governing law | Section 54, Transfer of Property Act, 1882 | Section 54 + Registration Act, 1908 |
| Registration | Optional (mandatory if possession is delivered) | Compulsorily registrable |
| Stamp duty | Nominal in most states | Full state-prescribed stamp duty + registration fees |
| Remedy on breach | Specific performance / forfeiture of earnest money | Cancellation suit / refund + damages |
Stamp duty & registration — what you need to know
Stamp duty on an Agreement to Sell is a state subject and varies materially. The downloaded template carries blank fields and notes so you (or your local lawyer) can plug in the correct stamp value before printing.
- Without possession: Most states charge a nominal stamp duty (₹100–₹500). Karnataka and Maharashtra are exceptions where the duty can be higher.
- With possession: Treated like a conveyance in many states — same stamp duty as the eventual Sale Deed and compulsorily registrable.
- TDS: If the sale consideration exceeds ₹50 lakh, the buyer must deduct 1% TDS under Section 194-IA at the time of paying the seller.
This information is general guidance, not legal advice for your specific transaction. Confirm state-specific values with a local advocate or sub-registrar.
Frequently Asked Questions — Bank-Leased Office - Company Buyer Agreement to Sell
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Agreement to Sell by Joint Owners in Favour of Company - Office Premises Already Leased to Bank
- Editable .docx — open in Word, Google Docs, or Pages
- All clauses pre-drafted, only fill in your details
- Includes notes on stamp duty & registration
- Instant download after payment + WhatsApp copy
Need many templates? Get all 3500+ legal drafts for just ₹499 — that’s ₹0.14 per template. See the bundle →
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