Dear All,
I have recently shortlisted an apartment in Mumbai. The property bears a single agreement between the Builder & the C H Society in 1976. And subsequently the C H Society allotted the apartment to Mr.XYZ. Further, the property was sold by Mr.XYZ to Mr.ABC in 1980. They entered into an "agreement for sale" but they didnt feel the need to get it registered at that time. Later, under an amnesty scheme, the revised stamp duty was paid by Mr.ABC in early 2000s. However the original "agreement for sale" document remained unregistered due to non-availability of Mr.XYZ. Now the new seller Mr.ABC has registered unilateral "deed of declaration" in 2010 with the Mumbai Registrar Office although for alltogether different purpose (i.e. obtaining Society Land Conveyance). The Office has registered the deed of declaration but has stamped "annexure not registered" on the old unregistered agreement.
Now my questions are:-
1) Whether such a deed of declaration is valid for registration of a new "agreement for sale" in 2013 between Me and Mr.ABC given that the chain of agreements is unregistered ?
2) Whether such a deed of declaration is valid for procuring a Home Loan from the nationalised/leading private/ scheduled banks who normally want a clear & marketable title?
3) If not, whether Mr.ABC needs to get the original "agreement for sale" registered by paying the current rate stamp duty and penalty applicable as of 2013?
4) Can he do it unilaterally or he'll need Mr.XYZ to appear alongwith him for registration?
5) If the first owner Mr.XYZ is untraceable/dead/unwilling, then will the registrar admit a unilateral registration? If yes, what extra needs to be done... (like giving advt. in newspaper, tilte search report etc.)?
6) What other options are possible for legalizing this transaction?
Your speedy response will be appreciated !!
Thanks & Regards
Bhagyesh
