Registration of document
V.PAVAN KUMAR
(Querist) 02 July 2011
This query is : Resolved
Respected Experts,
It was given to understand that the Registration of document (related to sale/ mortgage) is compulsory if the transaction value is more than Rs.100/-. For this purpose, do consider the period of the agreement? If the agreement period is less than ONE year, do we need to register the document? In this what is the value restriction?
Kindly guide me in this matter.
Regards,
V.PAVAN KUMAR
M.Sheik Mohammed Ali
(Expert) 02 July 2011
As per Registration Act more than 100 rupees valued transaction must register the document otherwise its not legal valid your transaction, if not register the document at time of dispute before court the court may order to fine or reject the documents.
R.Ramachandran
(Expert) 02 July 2011
Dear Mr. Pavan,
Please tell me where is the period of agreement involved in the case of (i) sale and (ii) mortgage?
vinay vaidhya
(Expert) 02 July 2011
Once you get into an agreement of sale or mortgage you have registered it. Time is the essence of the contract for parties to adjust the balance money in case of sale and in case of mortgage to find an alternative
prabhakar singh
(Expert) 02 July 2011
If the agreement period is less than ONE year, do we need to register the document?
yes.a sale is not4period but a mortgage is.
In this what is the value restriction?
100/
Jai Karan Nagwan
(Expert) 03 July 2011
Dear Mr Pavan,
As per your query Registeration Act left the parties with option as get it or not. However, only the document will not be admitted in evidence, but will be used for colletral purpose. if it sale of immovale property for more than INR 100/- registeration is compulsory.
Regards,
Jai
