Property share

KAUSHIK2006 (Querist) 26 July 2017 This query is : Resolved
Dear Team,

My sister (Life time) and myself are received share in a property, a shop let out 4 year back and received rental advance in my name and given share to my sister (50%). Moreover, Rental agreement has been signed by me for 100 % and next renewal is on due this month. kindly let us whether I can renew the rental agreement now. Tenant do not know that she is also having share for life time in the property and advance and rent are being share to her. kindly guide me.

Kaushik.

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P. Venu (Expert) 27 July 2017
You have not posted the complete facts. Any meaningful suggestion is impossible.

krishna mohan (Expert) 28 July 2017
If you are receiving 100%, you have to account for it as your income. For rental agreement discuss with a legal expert of your area (or) CA so that what you do informally can be formalized.