.. operationally for a period of five years. It is an unregreged instrument. Therefore, such an instrument cannot constitute a lease due to three legal inhibitions. The first prohibition is included in the first paragraph of section 107 of the Transfer of Property Act, 1882 (abbreviated TP Act), which states that a lease of real estate from one year to the next or for a period exceeding one year or the reservation of annual rent may only be made by a registered instrument. (Highlighted only here) (Highlighted only here) The second inhibition can be detected from section 17(1) of the Registration Act 1908 and reads as follows: (only the essential part) of the documents whose registration is mandatory. -1. The following acts must be registered where the property to which they relate is in a district where and if, on or after the date on which Act No. XVI of 1864 or the Indian Registration Act, 1866, or the Indian Registration Act, 1871, or the Indian Regis tration Act, 1877, or that Act came into force, namely:. (d) rental of immovable property from one year to the next or for a period of more than one year or reservation of an annual rent. The third prohibition is provided for in article 49 of the Registration Act, which refers to the fatal consequence of non-compliance with article 17 of the Act. ยง 49 provides that: 49.
Effects of non-registration of documents to be registered.- No document to be registered under section 17 [or any provision of the TP Act, 1882] affects real property or (b) confers a power of acceptance or (c) as evidence of a transaction that relates to such property or confers such power: Unless it has been registered. .