My father had purchased an apartment in a building in 1976 from a trust in Mumbai. The construction cost was borne by my father and 15 others. The society was formed and registered in 1977 by all 16 members as promoters. The building stands on a leased land (99 years) and the lease deed was registered in the name of the society in the year 2003. In 1999 my father through an agreement for sale gave the flat to his d-in-l(my spouse) for a small sum.This document is not registered but stamp duty was paid in 1999. Subsequently in the year 2007 the Collector of stamps said that the document was under valued and we further paid the actual stamp duty and penalty. Could you please tell me whether this document should have been registered then. If yes, what is the status of this title ? and can I avail of a loan now ? Thank you
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1) the agreement for sale ought to have been registered to confer clear and marketable title to the purchaser
2) to advance loan bank would insist on registered sale deed
3) registration can be one within maximum 8 months
3) your father can now execute deed of confirmation in your wife favour and sale deed can be annexed to the deed of confirmation
Dear Adv. Sethi, Thank you for your response. My father has expired in 2002. Will society records not be good enough and there is no encumbrance. What's the other alternative ?
1) purchaser can prepare a deed of confirmation stating all the facts of the original deed and also clearly state the happening of the death of the vendor. This deed of confirmation is to be signed by the purchaser and all the legal heirs of the vendor. This deed of confirmation and its attached annexure i.e. the original deed along with the deceased vendor’s death certificate and NOC from the legal heirs of the deceased should be submitted for registration
Though yor father transferred the property in your wife's name by a sale deed, the same was not rgistered hence she has no title to the property till date besides paying the appropriate stamp duty as applicable.
Now since the stamp duty has been paid in full in the year 2007 itself, you may get it registered on her name by all the legal heirs of your deceased father executing the sale deed on her name.
You may not be able to avail loan on the property which stands on your wife's name?
However you can become a co-applicant.
My father has expired in 2002. Will society records not be good enough and there is no encumbrance. What's the other alternative ?
All legal heirs of your deceased father should jointly execute a registered sale deed in favor of your wife to confer title on her in this regard.