Lost/destroyed share certificate and purchase deed for a flat in
I bought a flat in Mumbai in 1981 along with my mother. Both of us are joint owners of the flat. In 1989, I moved to USA and now I am a Canadian citizen holding OCI card.
We intend to sell the flat and noticed that the required documents are missing. There was a termite infestation some years ago and lots of files were destroyed in the wooden cupboard.
What would be the procedure to obtain copies of these documents. Also, I was told that some stamp duty act that was enacted in 2001 requires us to pay duty for registration. How true is it ? How much is the tax ?
I think we bought the flat for around 1.5 lakhs then.
Thanks in advance.
Asked 16 days ago in Property Law from Canada
1) if sale deed is regsitered apply for and obtain certifed copy from sub registrar office
2) if you have purchased flat from builder contact him
3) builders generally keep records of all sale deeds executed by them,
4) if your sale deed is not regsitered it cannot be done now . registration has to be done maximum within period of 8 months
1. You an get certified copy of all the registered deeds if those information are with you from the registration office.
2. loss of deed with not hamper your title,more so, if you have other related documents like property tax papers, certified copy of deed.
3. For obtaining certified copy you need not pay stamp duty on the value of property.
4. When you would sell the flat then only you have to pay the stamp duty.
1. You can apply for and get certified copy of the said destroyed title deed.
2. Before attempting to sale your said flat, lodge a missing diary before the police alleging that the said title deed of the lat has been lost by you.
3. After that publish a notice in two local Newspapers, one being in vernacular, informing the public in general about the said loss of your title deed.
4. After that you can sale your said property by paying the stamp duty and the registration fee.
5. The stamp duty will be levied based on the present market price of your property to be fixed by the Registrar.
If the title deeds are already registered in your favour then your title is clear, so you do not have to apply for registration. What you require is a certified copy of the title deed, which you can obtain from the office of sub-registrar on payment of nominal charges. To sell the flat you have to convince the prospective buyer that your title is free and marketable.
Purchasing an immovable property shall be by a registered sale deed alone which will suffer stamp duty during execution automatically.
Therefore you need not worry about the stamp duty if you had a registered sale deed document.
You can apply for certified copies of the registered documents which will solve the purpose for the time being.