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NIGHTMARISH VISITS TO SUB-REGISTRARS OFFICE SOON TO BECOME HISTORY – BANKS TO REGISTER PROPERTY PAPERS

banks-1The state cabinet has proposed an amendment to the Indian Registration Act, 1908, that would empower banks to register important documents. If you are running around to the registrars office get your important documents registered, its good news for you. Very soon banks would be empowered to register important documents related to mortgage, hypothecation and the leave and license agreement. The State Cabinet has proposed an amendment to the Indian Registration Act 1908 that would authorize banks to register important documents. Banks would become an alternative to the sub-registrar offices, the only authorized place for registering documents at present. The cabinet also gave an in-principle clearance for registering important documents directly through internet at a later stage. Currently, individuals and corporates have to go to the registrar’s office. The state’s proposed amendments would now be forwarded to the centre for approval.

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