Agreement attested by notary
Vinod
(Querist) 03 June 2013
This query is : Resolved
Dear Experts,
Is the Agreement attested by Notary have same significance as that of a attested by Registrar. Say we are executing one Rent Agreement attested by Notary and other way registered in Registrar Office .
What is the difference and its legal effects ?
Anirudh
(Expert) 03 June 2013
Dear Vinod,
One may enter into an agreement for renting out a property.
If the period of renting out is less then one year, the same need no Registration. However, to get it authenticated that such an Agreement had been entered into, Attestation Notary public would be of use.
However, if the period of renting out is more than one year, then the same is required to be compulsorily registered. (See Sec. 17 of the Registration Act, 1908). In such cases, mere notarisation is not at all enough.
The annual value of the rent would be the value with reference to which the stamp duty is liable to be paid.
In case the document/instrument which is required to be compulsorily registered is not so registered, then the said document cannot be accepted/admissible in evidence. (See Sec. 49 of the Registration Act, 1908).
Vinod
(Querist) 03 June 2013
Thanku Very Much Anirudh !
