Can use of words sold or conveyed in lease deed attract stamp duty on market value

4WhatIsRight (Querist) 09 November 2012 This query is : Resolved
I am going to let out a property against a payment of a non refundable premium and a monthly rent for a period of 99 years plus 99 years(renewable).
The lawyer of the lessee entrusted with preparing the lease deed has added the words" to have and to hold the said flat hereby granted, transferred, sold conveyed, assigned and assured or express so to be unto the...."
IS IT OKAY TO USE THE WORDS SOLD CONVEYED IN A LEASE DEED?
-can the registrar treat it as sale, and not as lease and ask for stamp duty on circle rates / market value.-As market value is several times the non refundable premium which I am to receive.

Does this make this instrument defective, because it is a lease deed and not sale deed or deed of conveyance- MAKING IT A SUBJECT TO ADJUDICATION

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adv. rajeev ( rajoo ) (Expert) 09 November 2012

when the word sale is used in the deed, certainly it amounts to sale.

Guest (Expert) 09 November 2012
Lease and sale/conveyance are totally different and opposite words to each other. If the property is leased on rent, but the words sold/ conveyed are used the lease deed becomes void, even if full stamp duty as for conveyance/sale deed is paid based for the value of the property.

ajay sethi (Expert) 09 November 2012
agree with expperts . dont use the words sold/conveyed in lease deed

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