Hello:
I bought a Resale property (society was formed in 1980's), and we executed "Agreement for Sale" in Jan 2012. We paid the stamp duty and registration fees as applicable.
Since we were taking a home loan, the Agreement copy was submitted to the bank along with other papers.
Now, the bank is requesting us to execute "Sale Deed". We do not mind doing it, but I have a few questions:
1. Do we need to pay registration fees/ stamp duty again?
2. Since the "Agreement of Sale" is already executed, the previous owner of the house is not owner anymore. Can we still call him "Transferror" in the Sale Deed?
3. Do you think executing Sale Deed is compulsory? Or, can we just frank and notarize it (in presence of me, previous owner and witnesses)?
I appreciate your responses. Thanks.
