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Assignment of An Agreement For Sale: Form No. 7
Assignment of An Agreement For Sale: Form No. 7
Assignment of An Agreement For Sale: Form No. 7
Form No. 7
177
and keep indemnified the Assignor against all such loss, damage, costs, charges and expenses. IN WITNESS WHEREOF THE PAR TIES HAVE PUT THEIR RESPECTIVE HANDS THE DAY AND YEAR FIRST HEREINABOVE WRITTEN. THE SCHEDULE ABOVE REFERRED TO x x x x Signed by the withinnamed Assignor Mr. .............. in the presence of .............. .............. Signed by the withinnamed Assignee Mr. .............. in the presence of ............................ __________
Note: This document is not required to be registered as the agreement for sale does not create any interest in the property. It is an assignment of an actionable claim and is required to be stamped as such. It is however axiomatic whether it will attract Stamp duty on the market value of the property involved. It is submitted that if at all, it will attract stamp duty on the consideration mentioned in the deed as on conveyance. In English Law an agreement for purchase of immovable property unlike the Indian Law creates an equitable interest in the property and therefore by such agreement the Purchaser can assign to a Sub-Purchaser all the estate and interest of the Purchaser in the property. That will not be so in case of an assignment of such agreement under Indian Law. Stamp Duty, eStamping & Registration : See the Indian Stamp Act, 1899 (2 of 1899), Rates of Stamp Duty in various States, eStamping and Compulsorily & Optionally Registrable Documents under the Registration Act, 1908 (16 of 1908), with official websites, in respective later Part/Chapters on Stamp Duty, eStamping & Registration of Deeds & Documents.