Upgrad LLM

flat under sarafaesi act


I have purchased one flat under SARAFAESI Act, 2002 from one Nationalised bank.

 

Bank has given me Memorandum of Sale on which bank insisted to pay stamp duty, which I paid also and got registered with sub-registrar and bank manager himself came for registration. So it became my Sale Deed.

 

 

Now I came to know that the memorandum of sale is not the Sale Certificate as per Appendix V of the Rules and now bank is not giving me Sale Certificate as per Appendix V format. Bank says whatever given (Memorandum of Sale) is sufficient.

 

Now what should I do?

 

1) What can I do to get the Sale Certificate from the bank as per Appendix V format?

 

2) If at all bank gives me Sale Certificate as per Appendix V, do I need to pay stamp duty again? and Have again register it with the Sub-registrar? or will have to register with sub-registrar as a "Deed of Rectification" ?

 

3) Even if stamp duty and re-registration is not needed again, Is it recommended to have it done?

===================================================

Following is the format of Memorandum of Sale issued by the bank to me.

 

And which is duly stamped and registered with sub-registrar

 

 

So & So bank

Address of the So & So bank

 

Memorandum of Sale

 

1)      In respect of :                                                  Address of flat mentioned here

 

2)      Name of the purchaser:                                       my full name mentioned here

 

3)      A) Total amount of bid accepted:                      Bidding amt mentioned here

B) Amount paid as EMD :                                   EMD paid mentioned here

C) Amount equivalent 25% (Less EMD) :         Some figure mentioned here

D) Balance amount equivalent to 75% :            Some figure mentioned here

                                    Total                                       Total figure mentioned here

 

 

            The sale is subject to terms & condition mentioned in public notice for sale as published in the news papers and the tender/document and confirmation of sale by the Authorised Officer as per SARAFAESI Act. After the confirmation of the sale, a Sale Certificate will be issued. The original of this sale certificate is liable for pay stamp duty to be paid by the purchaser. He/she shall also liable to pay registration and incidental charges.

 

 

Signature of successful bidder                                   Signature of Authorised Officer

                                               

 

Photograph of mine                                                     Photograph of Authorsied Officer                                        

 

 

Signature of witness I                                                  Signature of witness I

 
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