Upgrad LLM

what will be the validity of a 100 rs stamp agreement


Hi All,

Sir please help me in the issue mentioned below,

We had a piece of plot @ LB Nagar area which we planned to sell to one ramayya, Mr Ramayya had paid an advance of 15000 and had taken the original documents of the land and taken an agreement on a 100 rs stamp paper, we were waiting for him to pay the remaining amount and get the land registered on his name.

Mr.Ramayya did not turned up for 25 years.. and came recently and asking for the registration..

Sir i want to know what will be the validity of a 100 rs stamp paper (I heard that it will be expired in a span of 3 years)

Please let me know and help me in resolving the issue

Thanks to one and all who is contributing to this forum

You guys rock :)

Thanks in advance

 
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Student

Dear Raghevendra,

According to a recent Supreme Court judgement dated 19/02/2008 in the case of Thiruvengada Pillai Vs. Navaneethammal and Anr., THE STAMP PAPERS DO NOT HAVE ANY EXPIRY PERIOD.

Citation : Thiruvengada Pillai Vs. Navaneethammal and Anr.

According to a recent Supreme Court Judgement dated 19-02-2008 in the case of Thiruvengada Pillai vs. Navaneethammal and Anr., the stamp papers do not have any expiry period. Relevant extract from SC judgement is reproduced herein below:

“The Indian Stamp Act, 1899, nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. The stipulation of the period of six months prescribed in Section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper. Section 54 does not require the person who has purchased a stamp paper, to use it within six months. Therefore, there is no impediment for a stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.

Hopefully your query is being satisfactorily stands answered.

Best Regards

Daksh

 


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Advocate

Don't worry, limitation period to get sale deed registered in his favour has been expired.

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Advocate

The limitation for a suit for specific performance of a agreement as per Art.54 of the Schedule to the Limitation Act is three years. The time from which the period begins to run is the date fixed for the performance or, if no such date is fixed, when the plaintiff has notice that the performance is refused. In your case it is not clear what was the time given for the vendee to complete the transaction. Further, the agreement is valid but has the technical lacuna that it is not registered hence cannot be admitted as an evidence before the court of law. Further, except under the Bombay stamps act, there is no limitation on the life of the stamp paper in other states.


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Advocate

As per stamp act and limitation act,there is no limitation of period for continuation of validity of a stamp paper,other then judicial stamp paper.

 
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advocate

Judgment refered by Mr Daksh is perfect answer, and rest can be adviced only after knowing the date of agreement.


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civil practice

Since the pur chaser was not ready andf willing to purchase the land for 25 years,now he cannot come forward to do so.You are not bound to sell the land and ask him to return the original documents that he has.


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Hello All, and Thanks a ton for all the replies ... let me put some more light on the case and give you the details of it ....

The deed was made some 25 years back and no date is mentioned in the content ..

and we were saving the land from land grabbers for all these 25 years disallowng them to encrouch, on that day we have given an agrement on a 100 rs stamp paper that we have recieved the amount and given the original land documents to him.

All he has is the original papers and the 100rs stamp agrement that we have given to him 25 years back,

Now we have sold the land to some other person, and the buyer from us has given a paper statement for two weeks stating that (he is interested in buying so and so land and asked for objections from any one) and the registration is done to this buyer after one year of from the paper statement date...

now Mr. Ramayya comes after 25 years and claims that that is his land and threaten us to do registration on his name.

Please advice :)

And again Thanks a lot for all your support

Raghavendra

 
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Service

I completely agree with Mr. Darsh's post.

 
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Advocate

Mr Ragavendra,

Pls clarify whether you have mentioned about handing over possession of the property to the agreement holder in the agreement you have entered with him. if yes, he is now under possession in view of part performance of the contract. He can protect his possession subject to the terms envisaged under the agreement of sale.


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