Legal Question in Banking Law in India

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.