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In this video tutorial, Sandeep Krishna explains the concept of a tripartite agreement, which is particularly relevant for individuals in the real estate industry or those purchasing under-construction properties. He notes that buyers must enter into this agreement, which involves three parties: the buyer, the seller, and a financial institution providing financing. The tripartite agreement outlines the terms and conditions of the property deal involving the financial institution. This legal document is crucial for formalizing the contract among the three parties, ensuring clarity and security in the transaction process.
