Deed of confirmation can be executed by your brother . It should be duly stamped and registered
2) no need for release deed
3) your brother can be confirming party in sale deed
4) best option is for execution of deed of confirmation
I had purchased 50% share from my real brother in [deleted] in mumbai , maharashtra . 50% share i was holding in the flat which was bought in 1979 . Stamp duty is paid but agreement is not registered . i have sold this flat in march 2020 & registered the new agreement . the buyer bank has raised querry that agreement of 1996 is not registered so they have upheld loan sanction to new buyer . There is no dispute with my brother & he is alive & ready to sign any papers in current date as per bank requirements . Share certificate is in my name since 24 years , possession is with me , society has issued me sale noc , society bill is in my name , in mumbai we need collector noc also for sale of flat as it is collector plot which i have procured from collector noc in my name & new buyer name . Querry : let me know what is way to resolve bank querry as my brother is ready to sign any papers as per bank requirements for agreement not registered in 1996 . 1) can i make deed of confirmation & get it registered in present date . 2) can i make release deed & get it registered in current date . 3) new agreement made is agreement for sell with new buyer in march 2020 so sale deed is to be made as per bank requirements & registered putting bank cheque details in sale deed . can i make my brother confirming party in sale deed to be registered with new buyer . what is other way i can do so that my problem is resolved & the bank sanctions loan & the issue of 1996 agreement not register is resolved . if possible if any format or way is there which i can execute kindly let me know . i can pay extra for any document to be executed with bank so that the issue of bank loan is resolved . send me details on my mail id [deleted] kindly give me your advice . [deleted]
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Deed of confirmation can be executed by your brother . It should be duly stamped and registered
2) no need for release deed
3) your brother can be confirming party in sale deed
4) best option is for execution of deed of confirmation
1. As per a recent Mumbai HC judgment, the Latest Registered Sale Deed shall be considered Final for proving Title Ownership and for all legal purposes. There is no need for earlier Registered document, since IF the registrar has registered the latest sale deed without earlier registration charges, THEN it is legally Final.
2. However, IF there is no subsequent registered Deed, THEN the original unregistered document can be sent for Adjudication to the IGR office and ordered registration fee & penalty can be paid to regularize it. There is no other documentations required for this purposes. This can be done using the services of a local Registration Agent.
Hello,
If Bank permits to perform "Tripartite agreement" then you can make it and registered as sale deed. If you want I can perform a "Tripartite Sale Deed" draft in your favor. And this is valid because at end of the day , new buyer is going to get clear title transfer from all previous owners.
1.As per banking rule, it is mandatory to collect the registered or certified documents before sanctioning the loan , and hence bank try to secure the loan ,so that it cannot be challenged by the earlier owner of the property.
- Yes , a registered confirmation deed by your brother will serve the requirement of the bank.
2. Since, you are selling your share to the buyer , hence a release deed will create problem , so no need for the same.
3. Yes
Bank verifies the documents from its empaneled lawyer. Contact the lawyer and the lawyer who prepared the sale agreement in March, 2020 (fault lies with this lawyer who didn't check the previous documents before registration of sale agreement) and find out a way agreeable to the bank lawyer and there is no hinderance in documents in future. In my opinion, the best way is to get the old agreement registered now and and after getting the new agreement cancelled, get the same registered afresh to avoid any complication in future.
Dear Sir,
You are suggested to have the relinquish deed done in your favour from your brother and then the issue of the bank objections will be solved.
1. Yes. But you need to register it. You can also register the earlier agreement by paying penalty
2. Same as above
3. If you need banks assistance then you need to register the old agreement or execute new registered agreement
Instead of showing agreement, brother should have acted as co seller in the sale deed.
Deed of confirmation will attract useless stamp duty. No need. Tell the bank that brother is willing to give affidavit about confirmation of sale of his share.
Current date released deed or gift deed also a valid option but date of sale is former. Bank may again question validity of release deed.
If sale deed is not register yet than dont disclose the agreement and brother will act as co seller in sale deed.
If you will mention agreement in sale deed than registrar will charge stamp duty on that transfer also with heavy penalty.
Please approach the sub-registrar of property in your area and fill a form to register the sale deed of 1996 .
They would register it with some penalties which you may have to pay.
The bank is objecting for non-registration of your sale deed of 1996 therefore they have held back loan process.
Pl get the registration of sale deed done your matter would be solved.
Your brother can join as a confirming party in the sale deed between you and buyer
That should answer the bank's query and the apprehension it has
A confirmation deed can also be made between you and your brother and the 1996 agreement can be annexed to that deed and registered together
But for that you will need to get the 1996 agreement adjudicated by the Collector of Stamps who will give a certificate that proper stamp duty was paid. Then you have to lodge that document for registration with Sub registrar who will require you to pay penalty for late registration (as per law a compulsorily registrable document can only be registered maximum within 8 months from the date of its signing which can be allowed by the Registrar by paying a penalty)
So the 1996 agreement cannot be registered now. But it can be registered by annexing it to the confirmation deed.
if there is an agreement and stamp duty and the argument amount is already paid then you have to get it resistant and provided to the bank please be aware that you have to pay the stamp duty on the value of the property at the current rate because your now agreement is in march 2020 and registration for this sale deed has not been done till date so it is time where you have all the noc to proceed for the sale registration in your favour may solve the problem however it will be advised to check with the bank if they are happy with the procedure and be able to release the loan.
Sir , As suggested by various Lawyers that make Deed on Confirmation of 1996 & pay stamp duty & Register it Second option given was my Brother who sold flat in 1996 can be Confirming Party with me & my Buyer as in present circumstances i have done Registration in March 2020 as AGREEMENT FOR SELL & after Loan is approved by Buyer Bank SALE DEED will be Registered at worli Registrar office . 1) QUERRY SHOULD I GO AHEAD FOR DEED OF CONFIRMATION & PAY STAMP DUTY DO REGISTRATION . OF 1996 .I HAVE PAID RS 44,950 /- & RS 17980 PENALTY AS I PAID STAMP DUTY RECENTLY ON 28-8-19 IN AMNESTY SCHEME OF 1996 AGREEMENT . I WOULD LIKE TO KNOW WHAT WILL BE STAMP DUTY TO BE PAID PRESENTLY FOR DEED OF CONFIRMATION AS I HAVE ALREADY PAID 44950/- STAMP DUTY IN AUGUST 2019 . WHETHER I SHALL HAVE TO PAY FURTHER STAMP DUTY AT CURRENT VALUE MARKET RATE OR AT 1996 RATE . WHAT SHALL BE REGISTRATION CHARGES APPROX IF I GO AHEAD FOR DEED OF CONFIRMATION . CAN I MAKE MY BROTHER CONFIRMING PARTY FOR SALE DEED TO BE REGISTERED BETWEEN ME & NEW BUYER AS ALREADY AGREEMENT TO SELL WAS REGISTERED BY ME & BUYER IN MARCH 2020 SO CAN I MAKE MY BROTHER CONFIRMING PARTY FOR SALE DEED TO BE REGISTERED AFTER BANK ISSUES US CHEQUE DETAILS . AGREEMENT TO SELL WAS REGISTERED BETWEEN ME & BUYER IN MARCH 2020 . WHETHER REGISTRAR OFFICE WILL ACCEPT MY BROTHER AS CONFIRMING PARTY IN SALE DEED TO BE REGISTERED & WHETHER BANK WILL ACCEPT & THERE QUERRY OF 1996 AGREEMENT NOT REGISTERED WILL BE RESOLVED & CAN THEY APPROVE LOAN . PAWAN SUREKA
If full stamp duty with penalty is already paid under amnesty scheme then no need to pay any further stamp duty
You have to pay registration fee with penalty for the 1996 agreement. But in my view that document cannot be registered since the time of 8 months from date of signing for registering that document is already over
So you can get that 1996 agreement registered by annexing it to a deed of confirmation for which nominal stamp duty is required. As to the registration fee, that the registration clerk can tell you.
Best option here is to make your brother a confirming party in the sale deed
You need to ask the bank whether that would be acceptable to it
Registrar has no jurisdiction to refuse your brother from being a confirming party
1) you should go ahead for execution of deed of confirmation
2) registration charges are maximum Rs 30000
3) you should approach bank whether in sale deed your brother can be confirming party
4) better option is for execution of deed of confirmation
Dear sir,
Based on the stamp duty paid by you towards the agreement to sell that sub registrar will deficit the amount at the time of registration of sale deed and you can make your brother as confirming party in sale deed even if you have not entered into confirmation deed and if confirmation deed is entered between you and your brother and the same is registered then in such a case your brother either you make him a party as a confirming in sale deed or not is not mandatory.
You can do as aforesaid. How can you again execute additional deed when already an agreement is in existence better pay registration charges. If not then execute a fresh agreement. In fresh deed your stamp duty paid already will be wasted
your brother can execute registered deed of confirmation.
release deed not required.
Please Consult Local Property lawyer.
1. You can get the proeprty registered on your name first to have a clear and marketable title on your name which will enable you to sell the property as an absolute owner.
You can get a confirmation deed executed in your favor and register the same.
2. Release deed is not applicable to this situation.
3. As You have purchased the 50% share from your brother it may be appropriate to make him a confirming party in the sale deed.
Since you have paid the stamp duty as well as penalty under the amnesty scheme, you may not have to pay the stamp duty afresh in view of the stamp duty already paid, however you may have to pay the registration charges for registering the deed.
Since you have paid the stamp duty as well as penalty under the amnesty scheme, you may not have to pay the stamp duty afresh in view of the stamp duty already paid, however you may have to pay the registration charges for registering the deed.