registeration

Ravinder Sood (Querist) 23 December 2009 This query is : Resolved
whether sale cerificate issued under securitisation Act requires stamp? if so at what rate?
whether it requires registeration?
whether loan from bank can be secured by deposit of sale certificate without registeration? In other words, whether for equitable mortgage, regd.document is required?

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Raj Kumar Makkad (Expert) 23 December 2009
Securatisation requires compulsorily registration and stamp duty differs from State to State and without registration no equitable mortgage can be made by any bank against it.

K D Pande (Expert) 24 December 2009
Registraion for equitable mortgage is optional & not compulsary.

adv. rajeev ( rajoo ) (Expert) 24 December 2009
I agree with Raj Sir.

Y V Vishweshwar Rao (Expert) 24 December 2009
The Bank Authorised Afficer can Execute the Sale deed on behalf of the Mortagor as empowered under the Security Act to Sell the proeprty and it has to be Registered for Equitabel Mortgage!
Stamp Duty as applicable in the resepctive State