Gcl Notes

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GENERAL & COMMERCIAL LAWS  

   REGISTRATION ACT 1908  The Registration Act, 1908

 

1. INTRODUCTION In Order to give notice to the world that a document has been registered to serve as a source of information as well prevent fraud and forgery, there is provision for registration of documents and not a transaction. 2. REGISTRATION OF DOCUMENTS Documents which registration is Compulsory [ Sec. 17 ] Sec. 17 (1) enumerates 6 types of documents which require compulsory registration. 1.

Instruments of gift of immovable property. In a case law " Kalyan Sundram vs Karuppa " , it was held that registration is necessary for the enforcement of gift of immovable property. Non-testamentary instrument which create, declare , assign, limit or extinguish , any right title or interest for a value of 100 or more , in immovable property. Acknowledgement to receipt or payment of any consideration for creation , declaration , assignment, limitation , or extinction of any right , title or interest of the value of 100 or more in immovable property. Lease of immovable property from year to year or for term exceeding 1 year or reserving a yearly rent. Non-testamentary instruments transferring or assigning any decree or order of a court or any award when such decree or order or award , declare , assign, limit or extinguish any right, title or interest , of the value of 100 or more in immovable property . Authorities to adopt a son and not conferred by will. Document which registration is not necessary [ Sec. 17 (2) ]

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Sec. 17 (2) of the Act, enumerate the following documents which not require registration :-

1. Any composition deed : Composition Deed includes any instrument executed by a debtor whereby he conveys his property for the benefit of his creditors. 2. Any instrument relating to shares in a joint stock company.    

COMPILED BY MS.SHUBHAM AGARWAL CS LL.B. [Gold Medalist] 

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GENERAL & COMMERCIAL LAWS      REGISTRATION ACT 1908    3. Any debenture issued by a joint stock company and not creating. declaring assigning, limiting or extinguishing any right , title or int. to or in immovable property : or 4. Any transfer of any debenture issued by a joint stock Company ; or any document not itself creating, declaring , assigning, limiting or extinguishing any right, title or interest of the value of 100 and upward to or in immovable property, 5. Decree or order of a court except DEFINED IN SECTION 17 6. A grant of immovable property by the government ; or 7. Any instrument of partition made by a revenue office ; or 8. Any certificate of sale granted to the purchaser of any property sold by Public auction by a civil or Revenue Office. 9. Document of the payment of any earnest money or of the whole or any part of the purchase money. Documents, Which Registration is optional [ Sec. 18 ] As per Section 18 in respect of following instruments , registration is optional : 1.

Instruments , which create , declare , assign , limit or extinguish any right title interest , of a value less than 100 in immovable property. Acknowledgement of receipt for a sum of less than 100. Lease of immovable property:- for not exceeding 12 months and leases exempted under Sec. 17 Instrument transferring or assigning any decree or order of a court or any award:- when such decree or order or award creates, declares ,assigns, limits or extinguish any right , title or interest , of a value less than 100 in immovable property ; Instruments of movable property which purport or operate of create , declare , assign, limit extinguish any right title or interest. Wills ; and All other documents not required to be registered u/s of the Act. TIME LIMIT FOR PRESSENTATION OF DOCUMENT FOR

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REGISTRATION [SEC. 23-26 ] Section 23 : A document executed in India must be presented before the Registrar for registration Within 4 months from the date of its execution.

 
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