CHAPTER I
Preliminary

1. Adapted by the Karnataka Adaptations of Laws Order, 1973 (1.11.1973). 2. This Act has come into force from 1st June 1958-vide notification No. RD 6(A) SPS dated 12-5-1958 published at page 329 of part IV2-C of gazette dated 22.5.195Please see the text of Notification on p. 600.

3. Inserted by Act No.24 of 1999 w.e.f. 18-8-1999.

1[(ab) bond includes

(i) any instrument whereby a person obliges himself to pay money to another, on condition that the obligation shall be void if a specified act is performed or is not performed, as the case may be;

(ii) any instrument attested by a witness and not payable to order or bearer, whereby a person obliges himself to pay money to another; and

(iii) any instrument so attested, whereby a person obliges himself to deliver grain or other agricultural produce to another;

(b) chargeable means, as applied to an instrument executed or first executed after the commencement of this Act, chargeable, under this Act, and as applied to any other instrument chargeable under the law in force in the territories of the State of Karnataka when such instrument was executed or, where several persons executed the instrument at different times, first executed;

2[(c) Chief Controlling Revenue Authority means the officer appointed by the State Government to be the Commissioner of Stamps for Karnataka;]

3[(ca) Clearance List means a list of transactions relating to contracts either maintained by an association or an individual or required to be submitted to the Clearing House of an association in accordance with the rules or bye laws of the association and shall always mean to include all the transactions pertaining to sale as well as purchase of marketable>

4[(d) conveyance includes;

(i) A conveyance on sale;

(ii) Every instrument;

(iii) Every decree or final order or any civil court;

(iv) Every order made by the High court under section 394 of the Companies Act, 1956 in respect of amalgamation of companies, by which property, whether moveable, or immovable or any estate is transferred to or vested in, any other person, and which is not otherwise specifically provided for by the Schedule;]

1. Re-numbered by Act No.24 of 1999 w.e.f. 18-8-1999.

2. Clause (c) Substituted by Act No.29 of 1962, w.e.f. 1-10-1962

3. Clause (ca) inserted by Act No.24 of 1999, w.e.f. 18-8-1999.

4. Clause (cd) Substituted by Act No.6 of 1999, w.e.f. 1-4-1999.

1[(dd) Deputy Commissioner means the Chief Officer in charge of the revenue administration of a district and includes in respect of such provisions of this Act or rules made thereunder such officer in such area as the State Government may by notification in the Official Gazette specify ;

(e) duly stamped as applied to an instrument means that the instrument bears an adhesive or impressed stamp of not less than the proper amount and that such stamp has been affixed used in accordance with the law for the time being in force in the territories of the State of Karnataka ;

(f) executed, and execution, used with reference to instruments, mean signed and signature;

(g) Government security means a Government security as defined in the Public Debt Act, 1944 (Central Act XVIII of 1944);

3[(ga) immovable property includes land, buildings, rights to ways, air rights, Development rights, whether transferable or not, benefits to arise out of land, and things attached to the earth, or permanently fastened to anything attached to the earth.]

(h) impressed stamp includes

(i) labels affixed and impressed by the proper officer; and

(ii) stamps embossed or engraved on stamped paper;

(i) India means the territory of India excluding the State of Jammu and Kashmir;

(j) instrument includes every document 4[and record created or maintained in or by an electronic storage and retrieval device or media] by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded;

5[(k) instrument of partition means any instrument whereby co-owners of any property divide or agree to divide such property in severalty and includes

(i) a final order for effecting a partition passed by any revenue authority or any civil court,

(ii) an award by an arbitrator directing a partition, and

1. Clause (dd) inserted by Act No.29 of 1962, (S.2) w.e.f. 1-10-1962.

2. Inserted by Act No.24 of 1999, w.e.f. 18-8-1999.

3. Inserted by Act No.24 of 1999, w.e.f. 18-8-1999.

4. Clause (k) inserted by Act No.29 of 1962, w.e.f. 1-10-1962.

(ii) an award by an arbitrator directing a partition, and

(iii) when any partition is effected without executing any such instrument, any instrument or instruments signed, by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners;]

(l) lease means a lease of 1[immovable or movable property or both], and includes also

(i) a patta;

(ii) a kabuliyat of other undertaking in writing not being a counterpart or a lease to cultivate, occupy, or pay or deliver rent for, immovable property;

(iii) any instrument by which tolls of any description are let;

(iv) any writing on an application for a lease intended to signify that the application is granted;

(m) marketable>means a security of such a description as to be capable of being sold in any stock market in India;

2[(mm) Market Value in relation to any property which is the subject-matter of an instrument, means the price which such property would have fetched if sold in open market on the date of execution of such instrument or the consideration stated in the instrument whichever is higher;

Provided that notwithstanding anything contained in this Act or in the Articles, in respect of an instrument executed by or on behalf of or in favour of the State Government or the Central Government or a local Authority or other Authority constituted by or under any law for the time being in force or a Body incorporate wholly owned or controlled by the Central Government or the State Government, the market value of the property shall be the value of consideration for such conveyance as set forth in the instrument;]

(n) mortgage deed includes every instrument whereby, for the purpose of securing money advanced, or to be advanced, by way of loan, or an existing or future debt, or the performance of an engagement, one person transfers, or creates, to or in favour of, another, a right over or in respect of specified property;

(o) paper includes vellum, parchment or any other material on

1. Substituted for the words immovable property by Act No.9 of 1997 w.e.f. 1-4-1997.

2. Clause (mm) inserted by Act No. 6 of 1999, w.e.f. 1-4-1999.

which an instrument may be written;

(p) power-of-attorney includes any instrument (not chargeable with a fee under the law relating to Court fees for the time being in force) empowering a specified person to act for and in the name of the person executing it;

(q) settlement means any non-testamentary disposition in writing, of moveable or immovable property made

(i) in consideration of marriage,

(ii) for the purpose of distributing property of the settler among his family or those for whom he desires to provide, or for the purpose of providing for some person dependent on him, or

(iii) for any religious or charitable>

and includes an agreement in writing to make such a disposition, and where any such disposition has not been made in writing, any instrument recording whether by way of declaration, of trust or otherwise, the terms of any such disposition.

(2) The Karnataka General Clauses Act, 1899, shall apply for the interpretation of this Act, as it applies for the interpretation of a Karnataka Act