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Rajiv (none)     20 March 2013

Unregistered bayana agreement

Hello Experts,

Want to know does the ungistered bayana agreement of immovable property on stamp paper Rs 100 is a valid agreement. The Bayana agreement wherein some amount (1 lac) has been paid to original owner of the property as an advance money and a date has been fixed to make the balance payment. In this case both the parties entred into agreement called Bayana agreement on the stamp paper of Rs 100/- in front of some witness but not stamped by notary. 

Can this bayana agreement stand valid?

Thanks,

Rajiv 



Learning

 1 Replies

Advocate Ravinder (Advocate/Attorney)     21 March 2013

 

Yes it is valid.  For bayana agreement registration is not necessary.  After payment of the balance consideration and delivery of possession registration will be done, before the local sub registrar office.  The Bayana Agreement should contain Vendors name & address, purchaser name and address, total value, Advance amount, time limit that when the balance amount will be paid and registration of the sale deed will be done and other usual clauses. The Bayana agreement should be typed on Rs. 100/- non judicial stamp paper in two original sets.  One should be kept with the vendor and another with the purchaser. It should be signed by both the vendor and purchaser and two witnesses other than family members.  Notary is not necessary.  Only for affidavits & GPA notary will be done.

It is better to consult an Advocate for drafting or if your budget is low you can approach the document writers at sub registrar office itself.   


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