Hi, we have a property (mumbai) that we want to lease out. Currently a company is interested and have asked for a triparty agreement - licensor, company, company employee (who will stay in the residential flat).
the company employee is not an indian citizen.
Question -
1. Is such a triparty agreement a safe way to proceed from the licensor point of view.
2. If the person in the premises is not an indian national what are the responsibilities of the licensor to ensure that the licensee is bonafide.. what happens if there are lapses in his immigration status? Am i responsible for anything.. what documents should i collect before hand.
3. In a triparty agreement what if the employee is no longer employed by the company?
Please let me know your expert advise...as i am in the agreement draft stage.
Thank you so very much!
yg
