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    Why Stamp Duty Payment Is Necessary?: Se Does Not Create Any Right Over The Property. However

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    Shirish
    An agreement for the sale of property that includes transferring possession is considered a conveyance under amendments to the Bombay Stamp Act. While an agreement for sale alone does not transfer rights, providing possession does amount to transferring the property. Before amendments, parties would execute agreements for sale on Rs. 100 stamp paper even after transferring possession without executing a conveyance. This meant the government did not receive revenue and the purchaser's title was not made secure. Therefore, an agreement for sale that transfers possession must be registered as a deemed conveyance after paying the necessary stamp duty.

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    Why Stamp Duty Payment Is Necessary?: Se Does Not Create Any Right Over The Property. However

    Uploaded by

    Shirish
    9 views1 page
    An agreement for the sale of property that includes transferring possession is considered a conveyance under amendments to the Bombay Stamp Act. While an agreement for sale alone does not transfer rights, providing possession does amount to transferring the property. Before amendments, parties would execute agreements for sale on Rs. 100 stamp paper even after transferring possession without executing a conveyance. This meant the government did not receive revenue and the purchaser's title was not made secure. Therefore, an agreement for sale that transfers possession must be registered as a deemed conveyance after paying the necessary stamp duty.

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    An agreement for the sale of property that includes transferring possession is considered a conveyance under amendments to the Bombay Stamp Act. While an agreement for sale alone does not transfer rights, providing possession does amount to transferring the property. Before amendments, parties would execute agreements for sale on Rs. 100 stamp paper even after transferring possession without executing a conveyance. This meant the government did not receive revenue and the purchaser's title was not made secure. Therefore, an agreement for sale that transfers possession must be registered as a deemed conveyance after paying the necessary stamp duty.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    9 views1 page

    Why Stamp Duty Payment Is Necessary?: Se Does Not Create Any Right Over The Property. However

    Uploaded by

    Shirish
    An agreement for the sale of property that includes transferring possession is considered a conveyance under amendments to the Bombay Stamp Act. While an agreement for sale alone does not transfer rights, providing possession does amount to transferring the property. Before amendments, parties would execute agreements for sale on Rs. 100 stamp paper even after transferring possession without executing a conveyance. This meant the government did not receive revenue and the purchaser's title was not made secure. Therefore, an agreement for sale that transfers possession must be registered as a deemed conveyance after paying the necessary stamp duty.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Why stamp duty payment is necessary?

    An agreement for sale, which provides for transfer of


    possession is treated as conveyance of the property which
    may be agreed to be sold under the impugned agreement
    as per the Amendment to the Bombay Stamp Act carried
    out in the State of Maharashtra. An agreement for sale per
    se does not create any right over the property. However,
    when possession is to be given under the terms of the
    agreement it amongst to the transfer of property. Prior to
    the Amendment referred to herein above the parties use to
    execute agreement for sale on a stamp paper of Rs. 100/and even after transferring the possession conveyance was
    not executed. With the result, on the one hand, the
    government does not get the revenue and on the other
    hand, the tile of the purchaser of the property is not
    perfected. As such, an agreement for sale need to be
    registered being Deemed Conveyance after payment of
    necessary stamp duty under Article 25 of Bombay Stamp
    Act, 1958.

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