Hello,
We have a ancestral property to be sold. The Land was given by the co-operative society in 1958. Upon receipt of the land a loan was also sanctioned to my grandmother on the same day. Now we have the origianl documents as below
1. Registered document of the Loan.
2. Sale deed on my grandmother which is not registered.
From what we presume is that the Loan which was taken for 22 years has been completed in 1980 and we have a letter from the co-opeartive society of returnign the originals also. But my grandmother would not have taken the next step of dis-charging the load document and registering the sale deed in 1980.
Given this fact and we want to sell now
1. Is a certifiacte from the co-operative society for dis-charge of loan is enough OR Should we register the sale deed now.
2. If the sale deed needs to be registered now based on the dis-cahrge of loan certifiacte will we need to pay stamp duty based on today's rate OR will it be based on 1958 rate ?
We are confused since some say that Discharge of Loan certifiacte if more than enough to sell the property.
We also need a good lawyer who can take care of the legal tangles in Trichy, India
Please advice.
Thanks
Rgds
Pravin JK.
