Correction in registered sale deed
Sachin
(Querist) 29 March 2013
This query is : Resolved
Respected Experts please guide me on following points.
I have purchase one property in the name of X company in Mumbai. The Sale Deed was executed, Stamp Duty was paid. Everything in proper manner.
Suddenly i came to know that in the name of the company is written as X instead of XYZ. I have to correct the name otherwise it will create problems in future.
My Questions to Experts are:-
1. How can I correct the name from X to XYZ?
2. Whether i have to enter into fresh agreement?
3. Once again I have to pay Stamp Duty?
4. Any Application Format is there?
5. To whom i have to approach?
Please guide me.
Thanks
Sachin Gajendragadkar
Devajyoti Barman
(Expert) 29 March 2013
You have execute and register a Deed of Declaration or Rectification to correct the mistake.
ajay sethi
(Expert) 29 March 2013
your lawyer will do the needful . deed of rectifcation should suffice .
prabhakar singh
(Expert) 29 March 2013
IF CO. "X" AS WELL AS "XYZ" BOTH ARE REGISTERED AS COMPANY IN THE REGISTER OF THE REGISTRAR THEN NOT A RECTIFICATION DEED FOR NAME BUT A FRESH SALE DEED BY "X" TO "XYZ" WOULD BE THE LEGAL REQUIREMENT AND THAT WOULD CERTAINLY INVOLVE PAYMENT OF FRESH STAMP DUTY.
IN ALTERNATIVE THE VENDOR SHOULD WRITE A RECTIFICATION
DEED THAT HE HAS EXECUTED THE SALE DEED RECEIVING CONSIDERATION FROM CO."XYZ" WHOSE NAME BY OMISSION HAS STOOD WRITTEN AS "X".
Sachin
(Querist) 29 March 2013
Sir the company XYZ is yet not registered with Registered than in that case can i file deed of ratification/declaration? And to whom i have to approach?
ajay sethi
(Expert) 29 March 2013
if company is not yet in existence hwo can deed of rectifcation be made .
prabhakar singh
(Expert) 29 March 2013
YOU NEED TO APPROACH SELLER FOR REGISTRATION OF A RECTIFICATION DEED BEFORE SAME SUB REGISTRAR WHERE SALE DEED WAS REGISTERED.IT WOULD BE IN NATURE OF A CORRIGENDUM WITH ADEQUATE RECITALS AND THAT WHERE EVER IN THE ORIGINAL SALE DEED NAME "X" APPEARS(OR IN LINE SO AND SO PAGE SO AND SO)IT BE READ AS "XYZ"WHO IS THE ACTUAL BUYER FROM THE SELLER.
BUT YOU SAY "XYZ" IS NOT REGISTERED AS COMPANY THEN IT IS NOT A JUDICIAL PERSON AND CAN NOT BUY OR HOLD ANY PROPERTY IN IT'S OWN NAME.
IT DOES NOT LOOK TO BE A STRAIGHT CASE OF RECTIFICATION.
prabhakar singh
(Expert) 29 March 2013
IN YOUR CASE BUYER IS ONE FROM WHOSE A/C CONSIDERATION HAS BEEN PAID AND THAT APPEARS TO BE CO.'X'.
GET 'XYZ' REGISTERED FIRST THEN GET A SALE DEED DONE BY 'X' IN FAVOR OF 'XYZ',NO OTHER ALTERNATIVE. MERGER OF TWO MAY BE AN OTHER ALTERNATIVE.
Anirudh
(Expert) 29 March 2013
DEAR SACHIN,
LET US NOT BEAT AROUND THE BUSH.
PLEASE TELL VERY CLEARLY, WHO WAS THE SELLER. IN WHOSE NAME THE PROPERTY WAS REGISTERED PRIOR TO YOUR PURCHASING THE SAME.
Adv k . mahesh
(Expert) 29 March 2013
first register the company then follow the procedure as per the sub-registrar office tell you to submit the papaers
Sachin
(Querist) 29 March 2013
Respected Sirs,
It was my mistake that I told that XYZ is not registered with ROC. Infact it is registered and it is our company. I want to say that company X is not registered with ROC.
As per over all conversation i think that i can file deed of ratification with the sub-registrar by mutual consent of the seller.
It will suffice my purpose.
prabhakar singh
(Expert) 29 March 2013
THEN I REITERATE MY THIS PART OF THE ANSWER:
"YOU NEED TO APPROACH SELLER FOR REGISTRATION OF A RECTIFICATION DEED BEFORE SAME SUB REGISTRAR WHERE SALE DEED WAS REGISTERED.IT WOULD BE IN NATURE OF A CORRIGENDUM WITH ADEQUATE RECITALS AND THAT WHERE EVER IN THE ORIGINAL SALE DEED NAME "X" APPEARS(OR IN LINE SO AND SO PAGE SO AND SO)IT BE READ AS "XYZ"WHO IS THE ACTUAL BUYER FROM THE SELLER."
Sachin
(Querist) 29 March 2013
Ok sir thanks a lot for your advice. I got your point. Is there and specific format for Rectification Deed?
prabhakar singh
(Expert) 29 March 2013
No!Like any deed it would be drafted between
vendor and vendee "xyz" stating omissions and errors crept in the deed and substitution of corrections therefor.
Sachin
(Querist) 29 March 2013
Ok sir i got it.
Thanks a lot all of you.
prabhakar singh
(Expert) 29 March 2013
For your rough idea the draft may look like:BUT WITH CAUTION : TAKE HELP OF A LAWYER
DEED OF RECTIFICATION
This DEED OF RECTIFICATION is executed at this the day 2013 between
s/o residing at
hereinafter referred to the RECTIFIER/VENDOR which term includes ts successors and assigns of the ONE PART;
AND
"XYZ"
s/o residing at
hereinafter referred to as PURCHASER which term includes his heirs, executors, administrators, representatives and assigns of the OTHER PART
WHEREAS the property more fully described in the Schedule here under was sold by the Rectifier/Vendor in favour of the Purchaser named herein in above and by the sale deed dated and registered as Document No. of of Book 1 volume filed at pages to on the file of the Sub Registrar of hereinafter referred as the Principal Deed.
WHEREAS in the Principal Deed dated in line of page No. and in line
of page the name of the buyer of the property was wrongly typed as "X" instead of "XYZ" .
WHEREAS this typographical error has come to the knowledge of the above said Purchaser and requested the Rectifier/Vendor to rectify the same.
NOW THIS DEED OF RECTIFICATION WITNESSETH AS FOLLOWS:
That in the Principal Deed dated in line of page No. and in line of page No. is wrongly typed as "X" is rectified as to be correctly read as"XYZ"by this Deed of Rectification.
That as rectified as aforesaid, the Principal sale Deed shall remain in full force and effect.
That no consideration has been received by the RECTIFIER/VENDOR for executing this Deed of Rectification.
SCHEDULE OF PROPERTY
(As in the Principal Deed)
SCHEDULE OF PROPERTY
(Rectified by this deed of Rectification)
Present Market Value of the Property is Rs.
In Witness where of the RECTIFIER/VENDOR and the PURCHASER have set their hands on the day and month year first above written in the presence of
WITNESS RECTIFIER/VENDOR
PURCHASER
Raj Kumar Makkad
(Expert) 30 March 2013
Nothing to add more in the given long long discussion.
