18.03.2013

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18.03.2013

  1. 1. INTRODUCTION Registration acts as a notice to the general public. There are a fewdocuments which compulsorily need to be registered.
  2. 2. DOCUMENTS RELATED TOTRANSFER OF PROPERTY All property sales (whose value is Rs 100 or more) need to be registered. A document of gift of property irrespective of its value needs to be registered. The will of a person does not need to be registered. All documents that create interest, right or title in property need to be registered. All documents that extinguish interest, right or title in property need to be registered. Documents that declare, assign, limit or restrict interest, right or title in a property for the present or the future have to be registered. When a court award affects the interest, right or title in a property; documents assigning or transferring such an award need to be registered. Documents that acknowledge the receipt or payment of consideration on account of a transaction pertaining to interest, right
  3. 3. LEASE DOCUMENTSLease of property from year to year, for a term of more than a year, or reserving a yearly rent must be done under registration.
  4. 4. DOCUMENTS OF MORTGAGE All forms of mortgages need to be registered. Exception- a mortgage created by depositing of title or equitable mortgage, may not be registered.
  5. 5. NON-DISCLOSURE AGREEMENTS A non-disclosure agreement is anagreement between two parties to shareconfidential information with each other and not making it accessible to anyone who is not a party to it.
  6. 6. REGISTRATION OF NDARegistration of a document arises when there is a transaction for immovable property. ANDA is for exchange of business information. To avoid any legal dispute the NDA can be printed on a non-judicial stamp paper and notarized (certified or attested).

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