Mortgage rules in bangladesh

Ministry of Law, Justice and Parliamentary Affairs on October 27, 2014 published the new ‘Bangladesh Registration Rules, 2014’. It will replace the Bangladesh Registration Rules, 1973. The new rules will become effective from November 16, 2014.

In 2004, government made some significant amendments in the Registration Act 1908. At the same time, government also amended the Transfer of Property Act 1882. And in 2012 parliament enacted the Power of Attorney Act 2012. In the light of these new legislation, the amendment of the registration rules was necessary.

The new rules set out some conditions which must be fulfilled before a deed can be accepted for registration. It has a prescribed format of deed for transfer of property which is similar to the previous one of 2008.

Some of the key parts of the new rules:

• The process of maintaining the records;
• Criteria for accepting deed for registration;
• Process in case of unavoidable delay;
• Rules about commission and visit;
• Rules for handling deed which is filed for registration after the specified time limit;
• Rules for registering deed executed outside Bangladesh;
• Post registration activities;
• Rules about certified copies;
• Special rules for power of attorney;
• Special rules for will; etc.