Mou or agreement for sale

Querist : Anonymous (Querist) 24 October 2011 This query is : Resolved
Is it compulsory to have MoU or Agreement for sale of a flat in Mumbai region?

Does the MOU or Agreement for sale has to be registered too?

Please throw some light.
Cheers!

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Sailesh Kumar Shah (Expert) 24 October 2011
Agreement for sale of flat is not required to registered.

term 'MOU' is not defined in stamp act. so depends upon contents of MOU.

ajay sethi (Expert) 24 October 2011
no compulsion to enter itno MOU .
for sale of flat enter into agreement get it stamped . in respect of fltas sold on resale registartion is optional . however if you are taking bank loan bank will not disburse loan until agreement is duly registered .

Sankaranarayanan (Expert) 24 October 2011
yes for the loan purpose that is must, i agreed with mr sethi's opinion

prabhakar singh (Expert) 26 October 2011
i too agree with mr sethi's opinion.

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