Assuming that the complete stamp duty is not paid or under paid during notarization, this does not make the document void or otherwise invalid.
However, there are a few consequences of under stamping as per the stamp act
1. This document (notarized document) is not enough to support any property issues or even legalization of the property. Notarized document is inadmissible as it does not provide enough evidence of the registration of the property before any authority capable of receiving evidence such as the court.
2. The document can also be seized for enforcing the payment of full stamp value. You might be charged as an under stamped instrument in court. The penal stamp duty would be 10 times the value of the original amount and the buyer would have to pay it.
Hence, buyers may not show interest to take such liabilities.
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My house is not registered but it has notary papers, can I sell it?
Faheem
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September 15, 2020
2020-09-15T20:55:58+00:00 2020-11-11T18:58:16+00:00Comment
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