Confirmation deed
Rucha Pawar
(Querist) 12 December 2016
This query is : Resolved
Dear Sir,
we have sold one property to xyz, but hehas not registered his name into records of right and in to 7/12, therefore our name still appeared on to 7/12,
after some years by mistakenly we have sold that land again to abc , but this time abc has registred his name into records of rights and on 7/12, now when xyz came to know about this he approach us , till that time abc has constructed his banglow on that property, now xyz is ready to selltedown the matter, he confirms abc's right over property and owner is ready to pay him compensatory cost, and purchase cost,
we have decided to make a confirmation deed by which xyz accepts the ownership of abc and compensatory cost.
my query is that can this deed be prepare on nominal 500 rs. stamp paper as at both the time we have paid the stamp duty now again we are not liable to pay, so kindly guide on this .
Kumar Doab
(Expert) 12 December 2016
The question would such deed on Rs.500/ stamp paper be valid in the eyes of law?
rajeev sharma
(Expert) 12 December 2016
The stamp duty is attracted on the basis of contents of the deed not on the basis of the basis of the nomenclature of the document . Consult your local counsel with the draft of the document you want yo execute and he will advise you the stamp duty
Rajendra K Goyal
(Expert) 12 December 2016
ABC is not true owner, its owner is XYZ.
ABC may have to purchase the property from him through a registered sale deed.
Discuss in detail with your lawyer.
Kumar Doab
(Expert) 12 December 2016
Your own counsel can advise you in detail.
Ms.Usha Kapoor
(Expert) 13 December 2016
Rs.500 stamp duty is not legally valid. xyz is the true owner and not abc. He is not even a bonafide purchaser for value without notice.
Rajendra K Goyal
(Expert) 13 December 2016
May discuss in detail with your lawyer, whether suit for declaration would be appropriate, it may be cheaper in cost.
Kumar Doab
(Expert) 13 December 2016
XYZ is owner.
ABC is not owner.
Sale to ABC can't be claimed out of innocence.
Rajendra K Goyal
(Expert) 13 December 2016
If the matter not settled amicably, the second purchaser can lodge FIR for fraudulent act against seller.
Rucha Pawar
(Querist) 13 December 2016
sirs thanks for your reply , but here xyz is ready to confirm the rights and possession in the property, therefore we with mutual consent of all the three parties , we will enter into a confirmation deed wherein the title to the properties shall get validated, we will get it registered , on the minimum stamp paper od rs.500, along with the earlier principle deed in between abc and us ..
Rajendra K Goyal
(Expert) 13 December 2016
Your proposal does not seem to be legally valid.
Kumar Doab
(Expert) 13 December 2016
I shall prefer to concur with Mr. Goyal.
You have earned twice from sale of one plot.The stamp duty and any other expense should not bother.
This shall be the view of anyone, later.
Kumar Doab
(Expert) 13 December 2016
Rest your own counsel and you are best placed to decide.
Dr J C Vashista
(Expert) 14 December 2016
Well advised by expert Mr. Rajendra K Goyal, I agree.
rajeev sharma
(Expert) 14 December 2016
I would suggest that subsequent purchaser should file a declaratory suit against you and first purchaser. Then in the suit you may file a compromise and request the court to pass a decree in terms of compromise. That will make the title of the subsequent purchaser absolute.
Kumar Doab
(Expert) 14 December 2016
Check the stamp duty payable from SRO.
Rajendra K Goyal
(Expert) 14 December 2016
Expert rajeev sharma has suggested good way, may follow to resolve the issue.
Rucha Pawar
(Querist) 14 December 2016
Thanks all the senior sir(s) for your prompt response ,i also agree with the opinion of adv. Rajiv Sharmaji but sir as we all know our litigation system , it is very time consuming.
Kumar Doab
(Expert) 14 December 2016
You are welcome.
Rajendra K Goyal
(Expert) 14 December 2016
Author,
The suggestion from expert rajeev sharma is appropriate, fast, less cost consuming and is legal.
Agreement on 500/- stamp paper is illegal / not valid / would not confirm title.
rajeev sharma
(Expert) 15 December 2016
I thank experts for supporting my view
Kumar Doab
(Expert) 15 December 2016
You are welcome.
