Consequences of not registering the property
Nilesh Mistry
(Querist) 27 July 2012
This query is : Resolved
Sir / Madam,
If i am buying a property which has five earlier purchasers from which first three has not done SD and Reg and society has issued share certificate favouring fourth owner.
What is the safe way to purchase the same.
The agreements are not properly signed by third owner and the registration authority has transferred the flat on to fourth owner's name.
It is a shame but what can be done ??
please suggest how to take the posession of the property.
thanks.
ajay sethi
(Expert) 27 July 2012
dont purchase the property . the earlier documents are inadmissible in evidence not stamped .
you can make aplication for adjudicationas provided under Bombay Stamp Act . pay deficent stamp duty with penalty .
ajay sethi
(Expert) 27 July 2012
registration at least in mumbai for resale flats is optional .
