It can be executed on the 500 rs stamp paper but relinquish deed stamp duty may be depending on the value of property along with registration charges
Regarding stamp paper signing ADI validity
In case of an affidavit cum declaration cum indemnity bond ('ADI doc'), if stamp papers are purchased by a person other than the person swearing on ADI doc, then whether the ADI doc will be valid in the court of law. Further, what should be amount of stamp paper in case someone wants to forego their rights in parental house property, land and other assets.Asked 4 years ago in Property Law
Religion: Hindu
18 Answers
1. Validity of papers can be challenged on this ground but if executor of affidavit sign it in front of notary than it will be considered as valid document.
2. Stamp paper of Rs 500 can be used for relinquishment of share from property.
Facts:
In case of an affidavit cum declaration cum indemnity bond ('ADI doc'), if stamp papers are purchased by a person other than the person swearing on ADI doc, then whether the ADI doc will be valid in the court of law. Further, what should be amount of stamp paper in case someone wants to forego their rights in parental house property, land and other assets
Issues:
1. Validity of the stamp paper is purchased by a person other than the person executing it (in front of notary)
2. Validity of 100 Rs stamp paper..wherein valuation of only house property ranges between 1-1.5 crore
3. sale of property can be challenged in how many years if the validity of the ADI doc is void.Asked 4 years ago
Stamp paper should be in name of deponent
2) stamp duty on relinquishment deed would depend upon market value of share relinquished
Stamp paper has to be purchased in the name of the party who will be executing the document
As such the document if its signed on a stamp paper purchased in name of some other person, will be considered as not stamped
Release of rights is a transfer of property. That has to be made by way of a registered document which is duly stamped and not by way of an affidavit
Sale can be challenged within 3 years of registration of sale deed or within 3 years of the person gaining knowledge of such registered sale deed, whichever is later. Though in law a registered document is deemed to be within the knowledge of public as a registered document upon registration comes within public domain
What should be the value of stamp paper if the property value is around INR 1-1.5 crore and my share in the property is 1/9th. In my case 3 stamp papers of INR 100 has been purchased by a person other than the person executing it. Whether the same can be valid if it is executed in front of notary.
Asked 4 years ago
For relinquishing right in the property release deed is required by playing stamp duty and registration fee.
Yes the affidavit is valid.
1. The affidavit is valid if the stamp paper is purchased by third person.
2. The stamp.duty as per state law shall be applicable.
3. The sale deed can be challenged in three years.
1. You can contact local advocate for.calculation of stamp.duty.
2. Yes affidavit is valid though if it's for relinquishment for same deed needs to be registered.
Stamp paper would not be valid as purchased in name of third party
It would be 3 per cent of market value of your share in property
It is not necessary but preferable that the stamp paper should be bought by the parties involved in the transaction. Its validity cannot be called into question unless there are are other connected issues.
The stamp duty has to be calculated by the notary and it has to be registered.
If anybody else has purchased the papers then too it cannot be questioned.
The 100/- stamp paper would be valid and should be notarized.
If you register the documents then it would cost you more. Around 6 7 percent of the value of the property.
The valuation will depend upon the value of property. You need to pay the deficit stamp duty. It doesn't depend on your share but the total value of transaction. It differs for sale deed, gift deed etc
To forgo share in immovable property, release deed will execute. Registration fees payable. ADI invalid to forgo share in immovable property. Other movable assets can forgo by refusal to accept and give to other.
Stamp paper either shoud be executor name or in whose favor, forgo is done.
Sale can be challenge with in 3 years. Fixed registration fees payable - between blood relatives - 500rs registration or maximum 3% of govt. rate.
1. Document will be considered valid.
2. It will be a valid affidavit and admissible in court as evidence.
3. Stamp of 500 rs can be used for execution of agreement of sale.
The unregistered deed of indemnity cum declaration and affidavit is not enforceable in couirt of law.
You can prepare the same in a non judicial stamp paper to the rates of the stamp paper applicable in your state and get it notarised but the same cannot be enforced in court of law.
The released deed relinquishing the rights in the property canot be done on a non judicial stamp paper alone, it should be executed on a registered deed.
Moreover the Affidavit cum declaration cum indemnity bond is not a valid document to forego the rights in the property, it should be executed in a release deed format only and not in any other manner.
The stamp paper purchased on a third party's name for such transactions between a third person with the concerned person may not be legally valid.
Also please be aware that the unregistered deed in respect of immovable property transaction is invalid in law.
This is my response to you:
1. You can transfer property only by paying appropriate stamp duty;
2. With respect to the ADI or any other supplementary document to sale deed, the stamp paper can be of 100 rupees and it can be notarized;
3. To register any document, the stamp paper should be of the value of 500 Rupees;
4. Consult a local lawyer and take steps.
