Deposit of title deed requires stamp duty & if it is mortgage , it requires registration though styled as Deposit of title deed = It is relevant here to state that letter dated 29th March, 2007 of the Finance Commissioner inter alia makes instrument of deposit of title-deeds compulsorily registerable under Section 17(1)(c) of the Registration Act. However, the parties may choose to have a memorandum prepared only showing deposit of the title-deeds. In such a case also registration is not required. But in a case in which the memorandum recorded in writing creates right, liability or extinguishes those, same requires registration.=The document was executed on a white paper. Article 7 of Schedule 1-A of the Indian Stamp Act, 1899 was amended by substituting the said Article under the Act 19 of 2005 w.e.f. 01-08-2005 requiring proper stamp duty. Article 35 of Schedule 1-A of the Act deals with Mortgage deed. In either of the cases, it requires stamp duty and if it is a mortgage deed, it further requires registration though it is styled as Memorandum of Deposit of Title deeds.
Deposit of title deed requires stamp duty & if it is mortgage , it requires registration though styled as Deposit of title deed = It is relevant here to state that letter dated 29th March, 2007 of the Finance Commissioner inter alia makes instrument of deposit of title-deeds compulsorily registerable under Section 17(1)(c) of the Registration Act. However, the parties may choose to have a memorandum prepared only showing deposit of the title-deeds. In such a case also registration is not required. But in a case in which the memorandum recorded in writing creates right, liability or extinguishes those, same requires registration.=The document was executed on a white paper. Article 7 of Schedule 1-A of the Indian Stamp Act, 1899 was amended by substituting the said Article under the Act 19 of 2005 w.e.f. 01-08-2005 requiring proper stamp duty. Article 35 of Schedule 1-A of the Act deals with Mortgage deed. In either of the cases, it requires stamp duty and if it is a mortgage deed, it further requires registration though it is styled as Memorandum of Deposit of Title deeds.