Registeration of documents
Shah Mahesh
(Querist) 14 March 2013
This query is : Resolved
I have a query and will be grateful if you can share your views on the same. I am the 3rd owner of a flat in a registered CHS and staying there since the last 18 years. The 1st owner who purchased the flat from the builder has it registered but the 2nd owner and myself have not registered the property (stamp duty has been paid in all the 3 transactions). Will there be any difficulty in case I find a buyer who wishes to avail of a bank loan, since the property is not registered?, Thanking you in advance.
AAK
(Expert) 14 March 2013
Is it transferred to you through Registered sale deed?
Shah Mahesh
(Querist) 14 March 2013
No, agreement for sale was done in a registered CHS. Share certificates are in my name.
Pradeep MK
(Expert) 14 March 2013
I am replying your query assuming that your flat is situated in Maharashtra.
As per the Maharashtra Co-operative Society Act registration is optional. Since you have paid the proper stamp duty there will not be any difficulty in transferring the flat based on the two unregistered agreement of sale.
But Bnak may insist your prospective buyer to get it register for availing the loan
Raj Kumar Makkad
(Expert) 14 March 2013
It is wise to get the registered sale-deed executed if the buyer is already making payment of stamp duty on the entire sale consideration.
It shall be better to get this done at most priority basis so that you may not face any problem in future.
Advocate Bhartesh goyal
(Expert) 15 March 2013
Until and unless the sale deed does not execute in favour of buyer bank will not sanction the loan.
RAJU O.F.,
(Expert) 16 March 2013
Bank would insist to obtain the title documents registered in your name, for sanctioning loan on the said security.
ajay sethi
(Expert) 16 March 2013
find a buyer who does not need bank loan . in case of resale of flat registration is optional but bank insists on registration
Shah Mahesh
(Querist) 19 March 2013
Any other way out, since the documents are time barred and cannot be registered and also that i am staying there since more than 17 years..
ajay sethi
(Expert) 19 March 2013
try asking seller to execute deed of confirmation
prabhakar singh
(Expert) 19 March 2013
When you paid proper duty what restrained you from getting it registered.very strange.
Shah Mahesh
(Querist) 19 March 2013
Probably Deed of confirmation is not accepted now because i inquired with the registration office and registration of flat in a registered CHS was not compulsory during 1995 and is optional even now. It is only because most of us are not aware of the rules, the govt. is collecting money.
Pradeep MK
(Expert) 20 March 2013
If second owner is alive and ready to sign the confirmation deed you can register the confirmation deed. Please visit the web site of igrmaharashtra.gov.in where you can find the clarification given by the Stamp Authority. But please note that it is possible only when the 2nd owner is alive and ready not his legal heirs etc.
Shah Mahesh
(Querist) 20 March 2013
I understand that even if the stamp office registers the deed of confirmation, it invariably mentions that the annexure ( agreement for sale) is not registered and hence the purpose is not solved.
