Purpose
The purpose of the Registration Act amongst other things is to provide a method of public registration of documents so as to give information to people regarding legal rights and obligations arising or affecting a particular property, and to perpetuate document which may afterwards be of legal importance, and also to prevent deception. Registration lends inviolability and importance to certain documents.
Object
The Object of registering a document is to give notice to the world that such a document has been executed, to prevent deception and forgery and to secure a reliable and complete account of all transactions effecting the title to the property.
Registration Compulsory
1. Gift involving immovable property
2. Non - testamentary instruments which purports or operates to create, declare, assign, limit or extinguish in present or in future any right, title or interest, vested or contingent, in immovable property or which acknowledges receipt or payment of any consideration in relation thereto.
3. Leases of immovable property from year to year or for any term exceeding one year or for receiving yearly rent.
4. A Compromise decree which compromises immovable property which is not the subject-matter of the suit or proceeding.
Registration Exempted
1. Agreement of sale, lease or transfer.
2. Any decree or order of a court even though relates to immovable property.
3. An endorsement on a mortgage deed acknowledging payment of the whole or any part of the mortgage money.
4. Any other receipt for payment of money due under a mortgage when such receipt does not purport to extinguish the mortgage.
5. A certificate of sale granted to the purchaser of any property sold by public auction or by a Civil Court or Revenue officer.
Registration Optional
1. Acknowledgement of receipt, payment of any consideration on account of creation, declaration, assignment, limitation or extinction of any right, title or interest in immovable property for a term not exceeding one year.
2. Instruments which purport or operate to create, declare, assign, limit or extinguish any right, title or interest to or in a movable property.
3. Will, which covers movable, immovable properties and both movable and immovable properties.
4. All documents where registration is not compulsory u/s. 17 of the Indian Registration Act 1908.
Powers- Of- Attorney Act 1882
Power of attorney des not require registration whether it is a special power of attorney or a general power of attorney, but if the agent is authorized therein to present a document for registration, it must be executed before and authenticated by registering authority. If it creates any interest to the agent, then the power of attorney is registerable. If the Power Of Attorney is executed in foreign countries, it should be executed before and authenticated, by a Notary Public or any Court, Judge, Magistrate, Indian Consul or Vice Consul, or representative of the Central Government. After the receipt of the Power Of Attorney in India, if it is not duly stamped, (as per the stamp rules of concerned state) It should be presented for adjudication before the District Registrar of any office in India within three months after its arrival in India, with following documents, (a) Original Power Of Attorney (it will be returned after adjudication). (b) Affidavit of the party who submits power-of-attorney for adjudication. (c) Envelope cover to show the date of receipt of the power of attorney in India.
Indian Stamp Act, 1899
Stamp Duty
Registration Act and Stamp Act sails with each other, stamp duty is necessary for all documents which is sought to be registered and the rate of stamp duty in India differs from state to state. advisable to seek the assistance of local Lawyers. |
