“Fixed assets may only be transferred by means of a deed of transfer (deed of sale) duly stamped and registered in accordance with the law. We therefore reiterate that fixed assets can only be transferred and transferred legally and legally by means of a registered deed of transfer. Under the Transfer of Ownership Act, a contract of sale, with or without ownership, is not a transfer. Section 54 of the Transfer of Ownership Act provides that the sale of immovable property may be made only by a registered instrument and that a contract of sale does not generate interest or charges for its property. A contract of sale is a contract for the sale of real estate in the future. This agreement defines the conditions under which the property is transferred. Remember here that both parties must comply with the conditions set out in the sales contract. Any party that fails to comply with any of the conditions set out in the agreement may be brought before the courts if the other party so wishes. All parties concerned should also ensure that this document can be invoked as legal evidence before the courts of the law and that all those who have agreed to comply with the conditions are legally bound by it. In 2012, in the case of Suraj Lamp & Industries Ltd (P) Ltd (2) v Den, while dealing with the validity of sales of real estate by proxy, the Indian Supreme Court ruled as follows: a contract of sale is a promise in the future that the property will be transferred to the rightful owner, while the deed of sale is the actual transfer of ownership to the buyer. . . .