Legal Question in Banking Law in India
Banking law
Can a family settelment attested by central notary creat a valid mortgage with bank?
6 Answers from Attorneys
Re: Banking law
The answer is no. Any document concerning immovable property should have to be registered with the Registrar of Assurances. No Bank will accept a document without registration, even if it is attested by a notary, central of State.
Re: Banking law
actually your question appears to mean can a settlement not registered simply attested before notary constitute a title deed and can it be deposited in mortgage . The answer is no as TP Act requires any such document is mandatory one view of Bombay is that a memorandum of family arrangement needs no compulsory registration . How ever section 17 of Registration Act is clear it shows that full applicable stamp duty is required to be paid
Re: Banking law
You need to register the family settlement in the Office of the Sub-Registrar of your zone. Which city you belong to?
In case of need please contact alongwith the details.
Professional charges are applicable.
Re: Banking law
Yes.But it is safe and better to get the same registered.
Re: Banking law
You can register your family settlement deed through your sub-registrar of your area then only it is valid for mortgage with any bank.
M.P. SANJAY
Ph : 9392465234
Re: Banking law
No. Registration is necessary.
Related Questions & Answers
-
Payment Please explain how does a bank recover the pending amount (out standing... Asked 4/07/08, 1:03 pm in India Banking Law
-
Credit card payment sir, i'm financially in a critical stage and what wil hapen if i... Asked 4/07/08, 11:58 am in India Banking Law
-
Misuse of cheque 5 high value cheques with wrong signature were handed over to a... Asked 4/06/08, 7:25 pm in India Banking Law
-
Bank loan my grandmother has given by way of registerd sale the entire proerty to... Asked 4/03/08, 2:37 am in India Banking Law
-
138 negotiable instrument act Brief fact: 1- my father, uncle-i and uncle-ii made an... Asked 3/31/08, 11:57 pm in India Banking Law