Quick Answer: In which mortgage registration is not compulsory?

Which registration is not compulsory?

Under Section 18 of the Registration Act, 1908 it is not compulsory to register a document but you can register a document if you want to. Following is the list of some documents. Documents creating some kind of interest in the immovable property having value below one hundred rupees.

Is mortgage registration compulsory?

In the case of mortgage by deposit of title-deeds the immovable property is handed to the creditor by the borrower and documents stands as security. … Since mortgage by deposit of title-deeds does not require registration, no payment towards registration fee and stamp duty is necessary.

Which of the following document is not required for registration?

Development agreement and Agreement to sell between land owner and developer: A development agreement is not required to be registered. This includes all construction contracts given to a developer. However it attracts a stamp duty of 4% of the market value of the property, subject to a maximum of Rs. 4 lakhs.

What happens if a mortgage is not registered?

It is becoming more common for mezzanine lenders to accept an unregistered mortgage as security for a loan. While an unregistered mortgage gives the lender priority over any of the borrower’s unsecured creditors, an unregistered mortgage does not give a lender the same entitlements or benefits as a registered mortgage.

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Which is also called as registered mortgage?

Registered mortgage is also known as ‘Deed of Trust’. A registered mortgage meets all the necessary legal requirements to create a mortgage or a charge. If the borrower repays the loan according to the terms and conditions of the home loan agreement, the title of the property is given back to the borrower.

What is compulsory registration?

Persons who are required to pay tax under reverse charge

A person who is required to pay tax under reverse charge has to take compulsory registration as he has to take registration to submit tax under reverse charge.

In which case of registration is compulsory?

As per Section 24 of the GST Act, the following categories of persons shall be required to be registered compulsorily irrespective of the threshold limit: (a) persons making any inter-State taxable supply; It is important to mention that Central Government vide Notification No.

Is registration of immovable property compulsory?

Registration of a Will is not compulsory even if it comprises of immovable property. But if you want to do so, you may register your Will with the applicable registrar or sub-registrar of assurances (where you reside). … A Will doesn’t attract stamp duty.

Is mod compulsory?

With the recent regulations almost all the banks and financial institutions have made it mandatory to execute the MOD at the disbursement of the last installment of the loan amount. Since the MOD is a registered document, it will reflect in all the encumbrance certificates.

What is register mortgage?

In simple terms, a registered mortgage is a category of loan where the borrower voluntarily gives the bank full rights to the property in case of loan default. In such a scenario, you as a borrower have allowed the bank to dispose of the property which you can default the loan if you want.

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Is registration of equitable mortgage compulsory in Maharashtra?

With a view to curb malpractices in transactions relating to immovable property, Maharashtra Govt has made it mandatory to register the following documents & notices: 2013 issued by Maharashtra Govt in this regard is attached for information. …