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10/5/2015

LawyersclubindiaArticle:SaleofImmovableProperty:LatestJudgment

SaleofImmovableProperty:LatestJudgment

SaleofImmovableProperty:LatestJudgment

IamreferringthelatestjudgmentofSupremeCourtontheburningissueoftransferofpropertybyway

ofGeneralPowerofAttorney(GPA)/Saleagreement(SA)orSalecontract/WILL.

ThisjudgmentispassedbyHon’bleJusticeR.V.Raveendran,JusticeA.K.Patnaik&H.L.Ghokhle,in SpecialleavePetitionof SurajLamp& IndustriesVs.StateofHaryana,decidedon11 th October2011.

ThisJudgmentisveryusefultolearnthebasicsoftransferofpropertyandcreateawarenessamong

massesinsimplelanguage.

Cruxofthefindingare asfollows :

1)Transferofproperty bywayofSaleAgreement/ GeneralPowerofAttorney/WILL doesnotconvey anytitlenorcreateanyinterestinanimmovableproperty. Thesedocumentdoesnotconveyandlawful title.

2)Immovablepropertycanbelegallyandlawfullytransferred/conveyedonlybyaregistereddeedof

conveyance.

3)SuchrecordslikeGPA/SaleAgreements/Will doesnotfromanybasisforMutationinthemunicipal recordsandauthoritiesshouldtakeacautionbeforemutationuponsuchdocuments.

4)TransferofpropertybywayofWILLwould alsonotgivemuchscopetopurchaseruntilthesameis notprovedinaccordanceofsettledprocedureoflawandgetaproperendorsementofthecourt.The registrationofWilldoesnotalterthesituationaswell.

5)Courthasmadeitclearthatifanydevelopmentauthorityormunicipalauthorityhasacceptedthese

documentformutationpurposethansameshouldnotbedisturbedduetothisdecision.

10/5/2015

LawyersclubindiaArticle:SaleofImmovableProperty:LatestJudgment

6)Courthasclarifiedthatbonafidetransactionshouldalsonotbedisturbed.

Relevant LegalProvisionsinrespectof registrationof propertydocument

1)RegistrationAct,1908byAmendmentAct48of2001hasmadetheprovisionthatdocuments

containingcontractoftransferforconsideration(Saleagreement)relatingtoanyimmovableproperty

shouldberegistered.

2)Section32(3)ofRegistrationAct,,1908hasspecificprovisionthataPOAforsaleofimmovable

propertyshouldalsoberegisteredwithregistrarorsubregistrarofrelevantjurisdiction.

3)Section54oftheTransferofPropertyAct,1882definesthatanypropertyofmorethan100Rupees

valuecanbetransferbyaRegistereddeedonly.

4)Section53AofTransferofPropertyAct,1882speaksaboutthe partperformanceoftheawritten contractwheresellerhashandedoverthepossessionofpropertytobuyerbutthedeedisnotregistered thenthepossessionholdercanenjoythelimitedrightsofthepropertybutthethissectionreadwithlatest amendmentofRegistrationActundersection17(i(A)) whichsaysthatdocumentcontainingcontractsto

transferforconsideration,anyimmovablepropertyforthepurposeofSection53AofTransferof

PropertyActshallberegisteredotherwisesuchdocumentifexecutedafter2001shallhavenoeffectfor

thepurposeofpartperformancesecuredundersection53AofTPact.

5)Section27ofIndianStampActlaysdowntheobligationtopayeligiblestampdutyontheconveyance

deed.Article23 ofStampActlaysdownthesaleacknowledgingdeliveryofthepossessionorpowerof attorneyauthorizetosellanyimmovablepropertyarechargedwithsaledutyasleviableonconveyances.

BenefitsofRegistration:

­Registrationof adocumentgivesnoticetotheworldthatsuchadocumenthasbeenexecuted.

­Registrationprovidessafetyandsecuritytotransactionsrelatingtoimmovable property,evenifthe documentsislostordestroyed.

­Itgivesthepublicexposuretoapropertytransaction.

10/5/2015

LawyersclubindiaArticle:SaleofImmovableProperty:LatestJudgment

­Givesinformationtoaboutthepropertytopeopledealingwiththat.

­Makesthepropertytitle searcheasier.

(OtherCasesofreference: NarandasKarsondaV.S.A.KamtamAndAnr.(1977)3SCC247.

RambaranProsadV.RamMohitHazar(1967)1SCR293.)

By:­

AmbrishTiwari

MBA,LLB.

Source:­