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mahesh patwal (EXECUTIVE)     04 December 2012

Amendment in sale agreement after stamp duty paid

Dear Members,

I have executed an agreement for sale in my name. Stamp duty for the same is already being paid and agreement is duly stamped by the registrar.

Now I want to add my father’s name in the agreement as a co-owner of the property. Is it possible at this stage before payment of the registration charges. Will the documents be valid if we manually add the name of the co-owner in the agreement for sale and get it stamped from the sub-registrar office by paying a small fee of INR 1200?

Will this document be valid and accepted by bank officials for lending loan on flat. Kindly advise. Please advise if there are any other alternatives available like correction/rectification deed. What is the procedure. Will I have to pay the stamp duty again if I execute a correction/rectification deed. Looking forward to your help.

Regards,



 2 Replies

nilesh chawda (tax consultants)     08 December 2012

HOW A PERSON CAN BE CO - OWNER OF A PROPERTY WITHOUT CONTRIBUTING ANYTHING TOWARDS THE COST OF CONSIDERATION? THE DISTINCTION BETWEEN ' ADDITION FOR SAKE OF CONVINIENCE AS AGAINST CO - OWNERSHIP IS TO BE UNDERSTOOD. THE SHARE OF OWNERSHIP WILL BE DETERMINED BY THE RATION OF SUCH CONTRIBUTION, [ REFER sECTION 37 EXAMPLE 1 OF T.P.ACT.  

ankur tripathi (Asst Manager)     08 December 2012

Pls dont rectify the stamped agreement as the stamping will go waste .. register the exixting document and after that there is a rectification deed ... make that and add ur fathers name in the property which will be as per procedure and there will be no issue in future


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