Correction deed issue

Dear YJ,

Greetings. As long as the survey numbers and measurements are correct, you may not have any problem. However, it is better you initiate steps to correct the descripttion. You should ask the Vendor to execute the correction deed before the Indian Consulate where  he is at present. After receiving the same, please present it before the concerned Registrar for adjudication.

Right now please pay the Surveryor Fees and have the land measured and marked and apply for and get the sketch of the plot. Keep receipts for payment of fees also carefully.

Best wishes

Dear All,

I have purchased a shop. I have also taken a bank loan. However the issue is as follows:

At the time of registration of the assignment deed/transfer deed i did not get a loan Cheque from the bank so it is not present in the registred document. Also, there were few mistakes in the assignment deed like few clauses of agreement of assignment were present in the registred deed. (For example: The Vendor  has agreed to sell / transfer/ assign the said Shop No. 1 in described in Schedule A; purchaser has agreed to purchased the said Shop etc.) Along with that there was also a typo error in mentioning area of the said shop and buliding number missing in the registred draft. Hence bank said that the actual sale deed has not be executed and the deal is only hlaf done. Hence now I am ready to do a Deed of Correction. However, today bank said that I need to make changes in the document that was registered and register it again. How can already registered document be registered again? I explained to the bank that I will make a Deed of Correction and only that Deed will be registered. Am i right by saying this or do i need to make changes in the already registred document and register it again? Please help me out. Thanks a lot.

Kind regards

Gaurav Chandakkar

Dear Sri. Chandakkar,

Assignment and Sale are not one and the same. You also mention agreement of assignment. Please check and clarify exactly what deed was registered. Since the most important details regarding the property have been erroneously stated, the Bank naturally requires you to have corrections in the original. You should engage a lawyer to interact with the Registrar to sort your issue.

Best Wishes

Dear Sir,

Thanks for your advise. Yes, I accept that the most important details have been stated erroneously and I am willing to make Correction/Rectification deed.

However, bank insists that I should do Cancellation dded and then register it again; in which case I need to pay Stamp Duty again and the whole process will take much time.

So am I correct in demanding that I will do correction deed only? Is it a legal way? As i understand the correction deed is read alongwith the one which got registered and it is valid. Pls let me know.

Thanks and regards

Dear Sri. Chandakkar,

You should not be worried about the Stamp duty. You will not be required to pay again. Along with the Rectification Deed , the Registrar will require you to file  a copy of the Sale Deed as it would be with all the corrections done. This will be an annexure to your Rectification deed. There will be an endorsement to the effect .  After registration, you can produce the corrected sale deed (which you file as annexure to the Rectification Deed)to the bank. Engaging a Lawyer for the services will be helpful to you.

Best Wishes