Registration of agreement of transfer/sell
Raval Ramesh
(Querist) 25 August 2011
This query is : Resolved
Is it mandatory to Register the Agreement Of Transfer or Sell of Residence property of a Registered Cooperative Housing Society as I understand that Section 41 of the Maharashtra Co-op. Societies Act Specifically provides for exemption from compulsory registration of an Instrument relating to shares and debentures of the Society. Nothing in clause (b) and (c) of sub – section (1), of section 17 of the Indian Registration Act, 1908, shall apply to any instrument relating to shares in a society, notwithstanding that the assets of the society consist in whole or in part of immovable property. Therefore, under the said Section it is specifically mentioned that such an Agreement does not require registration. In fact it has been held by Bombay high Court in its Judgement in USHA DONGRE VS. SURESH KOTWAL reported in 1990 Maharashtra Law Journal 306 that such an Agreement does not require Registration . Therefore, such an Agreement is not required registration with the Sub-Registrar of Assurances.
ajay sethi
(Expert) 25 August 2011
it is true resale of flat in cooperative society does not require compulsory registartion . however if you are availing bank loan bank will insist that you register agreement failing which loan wont be disbursed .
to be on safer side register the agreement
Raj Kumar Makkad
(Expert) 25 August 2011
Your conclusion is absolutely correct. It is safer to get it registered.
