The Indian Registration Act provides for the registration of documents and thus records the contents of the document. Registration is necessary to preserve evidence and titles. There are certain agreements mentioned in Section 17 of the Indian Registration Act, which must be forcibly registered and therefore cannot be made without stamp paper. Some of them are 2. If so, then send a letter of retraction to the other party, in which it informs it that the aforementioned agreement is annulled for its non-compliance with the terms, The only discrepancy in a non-stamp agreement is the production of an unsealed agreement in court as evidence. Section 35 of the Stamp Act de qualifies a document that does not have the necessary stamp duty in court as inadmissible. However, there are exceptions to this provision and do not completely negate the right of the parties to apply such an unstamped agreement. Under this section, an unstamped agreement may be authorized in court by paying the deficit stamp duty at the same time as a penalty, i.e. an amount varying from state to state. In the event of a deficit and penalty, the agreement is deemed to be fully stamped. 1. Why were there two written agreements? Were they executed on the same day? Remember here that both parties must respect the terms of the sale agreement.
Any party that does not comply with any of the terms of the agreement could be brought to justice if the other party so wishes. All parties involved should also ensure that this document can be used as legal evidence before the court of law and that all those who have agreed to comply with the conditions are required to do so. Clearly, these lawsuits are increasing and delaying in litigation and additional business costs, so it is always advisable to enter into agreements on stamp paper by paying the necessary obligation. There are certain agreements that should be mentioned under the Indian Stamp Act, which should be made on stamp paper, but which should not be forcibly registered, such as.B., 2) if, pursuant to the agreement, 4 months were given to make the payment and the buyer was not required to pay the balance of Rs 19 Lakhs , you should have withdrawn at the end of the 4-month period. A purchase agreement is an important document in the process of selling and buying real estate.