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Raktim Chakraborty (Deputy Manager - Enterprise Risk Services)     03 May 2012

Sale deed, after executing agreement for sale

Hello:

I bought a Resale property (society was formed in 1980's), and we executed "Agreement for Sale" in Jan 2012. We paid the stamp duty and registration fees as applicable.

Since we were taking a home loan, the Agreement copy was submitted to the bank along with other papers.

Now, the bank is requesting us to execute "Sale Deed". We do not mind doing it, but I have a few questions:

1. Do we need to pay registration fees/ stamp duty again?

2. Since the "Agreement of Sale" is already executed, the previous owner of the house is not owner anymore. Can we still call him "Transferror" in the Sale Deed?

3. Do you think executing Sale Deed is compulsory? Or, can we just frank and notarize it (in presence of me, previous owner and witnesses)?

I appreciate your responses. Thanks.



Learning

 2 Replies

adv. rajeev ( rajoo ) (practicing advocate)     03 May 2012

You wil have to pay the stamp duty on the registration of sale deed. ONly on the basis of the agreement of sale you wont become the owner and you wont get the tittle deed.  If the owner is died his legal heirs are bound to execute the regd., sale deed.

Raktim Chakraborty (Deputy Manager - Enterprise Risk Services)     06 May 2012

Do you mean we have to pay the entire stamp duty and registration fees again?

The property is located in Mumbai suburb.


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