Which Agreements Are Required To Be Registered

The Commission secretariat reviewed the provisions for mandatory or voluntary registration of documents. The deed of sale is the most important legal document by which a seller transfers his right of ownership to the buyer, who then acquires the absolute ownership of the property. Before 1864, there were several decrees on the registration of documents in British India. Each province of Bangal, Bombay and Madras was subject to rules providing for the registration of documents. In Punjab, Circular 201 of 1849 provided for the recording of the facts. The first comprehensive decree on the registration of documents was adopted by the Act XVI of 1864, which consolidated and amended all previous laws on the registration of insurance. It introduced for the first time a mandatory registration system in British India for certain clauses of documents and also abolished provisions that limited priority rights to registered documents over non-registered documents of the same nature. However, under this Act as well, the right of priority has been granted to the optional registration requirement and not to mandatory documents. Therefore, if two A and B documents were registered at your choice and one of them was registered A, A would have priority over B. However, if A was mandatoryly registered and B was registered of choice, the fact that A was registered is not entitled to priority over B. In addition, the Indian High Court considers that the power of attorney that would have motivated an interest in real estate worth 100 ru.s.100/- or more must be registered. (1907) 35 Cal 845 (848 849) (SB) (The A.I.R. Manual-Volume 30, page 796) As lawyers, we are often asked whether agreements that are not concluded on stamp paper are invalid and unenforceable.

The answer is a simple „NO.“ Agreements can be made either on a stamp paper or in a non-buffer document. While agreement has been reached on a document without stamps, certain legal aspects must be respected. This article establishes the validity of unstamped agreements and delves into the legal and technical consequences of unmarked agreements. Article 17, paragraph 2, point v), provides that a document that does not in itself create a right to a property of a value greater or equal to section 17, but merely creates a right to obtain another document which, when executed, creates such a right, must not be registered. A sale agreement in the usual form, which is the receipt of seriousness and the execution of a regular deed of sale to the payment of the balance money, is a document of this type. In most Indian states, the buyer can complete much of the online registration process. Depending on where you live, you can use online services to partially complete the registration process. However, for the final step, you should go to the sub-registry with the seller and two witnesses to complete the transaction. Once the documents have been registered, you will need to go back to this office to retrieve your registered property documents. This fee is calculated based on the value of the property and is generally a percentage of the total amount payable.