Kumar
05 July 2020 at 06:21
Dear Experts,
I am planning to buy a school (Land + Building) which is currently registered as a Society under Andhra Pradesh Societies Act and rent it out to the same management. Please note that, I am not planning to run the school at least for next few years, due to different obligations, so I am planning to rent it out to the current management as they are interested in running the school for next few years.
As the School is currently registered under Society, I am not sure what is the best way to buy and rent this school. Could any experts in this forum please answer below questions. Greatly appreciate your help on this.
1. Is it a good idea to create new trust with my family members as members and purchase the School (land/building) in the name of trust and rent the school to the existing educational society which currently owns the school? OR Is it better to buy this property as an individual (on my name) and create rental agreement?
2. Which is better between registering property under my name vs newly created trust name from cost/taxes perspective? In case of trust name, Do I need to pay Property registration charges of 7.5% ? For example, in Andhra Pradesh, the base Andhra Pradesh Stamp Duty rate of apartment/ flat is 5%, transfer duty is 1.5%, and the registration fee is 0.5 %
3. In future, If I want to sell the property then what is better option Purchasing the school on my name VS purchasing the school on trust name?
Thanks,
Kumar
Soumen Jana
04 July 2020 at 23:17
Mr X sell the property To Mr A & Mr B. Mr X mentioned 8ft common passage to Mr A(2015), 13ft common passage to Mr B(2010) mentioned sell deed. But The common passage is still the seller name. But now the seller Mr X disagree and block the road and not permit to taking electric and water line and concrete road through this common passage. In that case seller want again asked money to sell the common passage to the buyer Mr A &Mr B. Seller have some land in same Dag No...guide me in that case what can I do?
Mario
04 July 2020 at 18:38
I stay in a cooperative housing society. Before i could purchase a second hand flat on 2nd floor which is also the last floor, the building terrace had asbestos sheets(This was fixed may be due to leakage) BUT still there was leakage ONLY from my balcony roof.
I brought it to the notice of CHS. The leakage was due to a concrete beam coming between asbestos sheets. To stop this leakage the concrete beam had to be demolished. The CHS funded the repairs. As the building itself is 20 years old, the demotilion of concrete beam has had a adverse affect on my balcony roof.
The leakage has stopped but concrete pieces are falling off from the balcony roof. This i feel was the direct impact of the demolished beam and also the LEAKAGE which was OVER SEVERAL MONTHS WHICH HAS WEAKENED THE STRUCTURE.
Now my question is who is responsible for the repairs(concrete pieces falling off) of the balcony considering its been 6 years since the repairs. Please note i had warned the committee the effects of beam demolition on my balcony roof and at the same time had vouched for its demolition as i was the affected party.
If the CHS says they are not responsible for repairs than what is the future course of action?
Mario
04 July 2020 at 18:25
I stay in a cooperative housing society. Before i could purchase a second hand flat on 2nd floor which is also the last floor, the building terrace had asbestos sheets(This was fixed may be due to leakage) BUT still there was leakage ONLY from my balcony roof.
I brought it to the notice of CHS. The leakage was due to a concrete beam coming between asbestos sheets. To stop this leakage the concrete beam had to be demolished. The CHS funded the repairs. As the building itself is 20 years old, the demotilion of concrete beam has had a adverse affect on my balcony roof.
The leakage has stopped but concrete pieces are falling off from the balcony roof. This i feel was the direct impact of the demolished beam and also the LEAKAGE which was OVER SEVERAL MONTHS WHICH HAS WEAKENED THE STRUCTURE.
Now my question is who is responsible for the repairs(concrete pieces falling off) of the balcony considering its been 6 years since the repairs. Please note i had warned the committee the effects of beam demolition on my balcony roof and at the same time had vouched for its demolition as i was the affected party.
If the CHS says they are not responsible for repairs than what is the future course of action?
Raghwendra Singh
04 July 2020 at 15:25
Dear Sir/Madam I started my carrier in Defence Research & Development Organization (DRDO) , Ministry of Defence , Govt. of India in October, 1998. I shifted from DRDO to ICAR an Autonomous Research Organization under Min of Agriculture, Govt. India through proper channel by submitting technical resignation on 24 Feb, 2011 I submitted an application for regularization. My present department i.e.ICAR is asking for contributory pension and gratuity and leave encashment etc . Please suggest me any rules if an employee shifted form central to central govt. whether it is mandatory to submit these contributory pension,gratuity and leave encashment from previous organization.??? Please help me in this regard , so that my services can be regularized
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ranjan vaghela
04 July 2020 at 09:36
How much Housing society Inder SRA bandra can charge non occupancy to sub tenant?
Rangee
03 July 2020 at 23:31
Sirs,
My question is one lady mortgaged her property by depositing title deed with bank as guaranttor for loan of her sons firm. she died leaving a will prior to mortgage as per the will 52% of property mortgaged she has gifted to third pary her relative who is not legal heir. the will was not revealed to the Bank until issue of 13(2) notice, now whether this property willed to third party can be sold under sarfasi law, please answer
uganti
03 July 2020 at 21:26
when a accuse wish to show his FIR (first time ) to advocate
1.should he tell to lawyer that he has mens rea in theft case or he should not disclose this on very first meeting ??
2.or after 2nd or 3rd meeting he can disclose ?? or never disclose ?
3 if he wants this lawyer to handle his case what should he do ?
Anonymous
03 July 2020 at 09:05
Sir,
My Dad borrowed some fund from a person.
The person charges high rate of interest.
My Dad regularly paid the interest. But looking towards calculation, the amount of interest paid by my dad has exceeded twice the principle amount. Still principal amounts stands to be outstanding. And with this due regards he creates enormous pressure.
All of the above he wants Gold as security and also eyes to the properties.
Kindly suggest us what legal step should we take?
My Dad is in full depression and is unable to think much
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Affidavit
An affidavit attested by oath commissioner was submitted to civil court as exhibit stating in to file no objection in criminal case when called upon. My query is that as the affidavit was filed in pressure from opposite party and when criminal case was called upon I did not submit no objection and my case was heard. Can I refuse to this affidavit which submitted in civil court that same was filed in pressure.