SUB.: REGISTRATION AND RELATED ISSUES
JANUARY 2003- REGISTRATION MATTERS
1. Is there any provision s for safe custody of Will?
Yes, there is provision for safe custody of Will as detailed in Indian Registration Act 1908. The testator, who is the person who makes the will or his duly authorized agent, may deposit the sealed cover containing will with any registrar for safe custody.The cover should be super scribe with the name of the testator or his agent with a statement of the nature of the document. An amount of Rs. …..will be charged as fee.
2. Who should be present at the time of registration of the document?
Both the parties to the transaction and also confirming/consenting witnesses should be present at the time of registration.
3. What is the difference between registration of partnership deed and registration of partnership firm?
The terms and conditions of partnership are prepared on stamp paper of requisite value and will be registered at the Sub-Registrar Office just like any other documents. This will not amount to registration of partnership firm. Registration of firm is separately required as per Indian Partnership Act 1932 with registrar of firms.
4. Inform the time in which the executed document should be presented for registration?
There is a time limit for presenting the executed document for registration. The duly executed documents should be presented for registration within 4 months from the date of the execution. Documents executed outside India should have to be presented for registration within four months from the date of its receipt in India.
Thereafter, registration is permitted for a period of another four months with payment of fine, which requires permission from the District Registrar. The fine is payable as follows:
- When the delay is 1 week: Fine equivalent to actual registration fees.
- Exceeds 1 week but less than a month : Two times of the registration fees
- More than 1 month but less than 2 months – Five times of the registration fees
Exceeds 2 months but not above 4 months – Ten times of the registration fees
5. How to obtain certified copies of the registered documents?
Any member of the public may obtain the certified copies of the registered documents of immovable property from the respective Sub-Registrar offices on application and payment of prescribed fees.
With regard to registered Wills only testator can obtain the copies during his life time.
Certified copies of the adoption deeds, power of attorney, trust deeds are available only to the respective parties or their duly authorized agents.
One has to enclose non judicial stamp paper of Rs. …. along with application Rs….. is charged for each page of Xerox copies and Rs. …. for every …..words for a hand written copy.
6. What is meant by irrevocable power of attorney of immovable properties?
If the deed of power of attorney mentions that power of attorney is executed after having received full value of the property and it is irrevocable, such power of attorney is called irrevocable power of attorney. It cannot be revoked unilaterally until the property is transferred.
7. Can one become owner of a flat by purchasing and registering only undivided share of the Land?
No. By purchasing and registering only undivided share in the land, one will not get absolute ownership of the flat. Undivided share of land will come along with built-up area only. The stamp duty and the Registration charges are to be paid for both the undivided share and the built-up area to get absolute ownership of the flat.