Can Renatal Agreement Be used as immovable Property
DINAKARAN
(Querist) 19 November 2010
This query is : Resolved
Respected Experts,
To get return of property from court. The honourable court is impose one condition that the concern person of the case should produce immovable property(Value Rs. 20000) as sureity. But the person has no such proprty here. He has one rental agreement Worth Rs 500000( ie Rs500000 He gave to his building Owner as Advance )It Is Valid Till Nov 2011. The above said Agreement can be treated as immovable property surity ? Pls guide me
Thanks & Regards
J.Dinakaran
Cell : 9444151658
Mail : dina.advocate@gmail.com
Raj Kumar Makkad
(Expert) 19 November 2010
No. such agreement has no evidentiary value as being security amount for the satisfaction of court.
Devajyoti Barman
(Expert) 19 November 2010
Yes, that agreement has got no value. Ask for modififcation of the order so that kind of surety may be changed.
Kiran Kumar
(Expert) 20 November 2010
No such an order is not valid.
Advocate. Arunagiri
(Expert) 20 November 2010
I agree wit Mr.Barman. You can also ask for the deposit of the amount Rs.20000/- which is the equivalent value of the property.
If the trial court is not modifying the conditions, go for appeal.
Kirti Kar Tripathi
(Expert) 21 November 2010
yes, i agree, you can request the court to change the mode security stating the correct position.the court will do.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 21 November 2010
Bail and surity orders are for value and not for movable or imovable properties.
Rented property is also property , just apply to local revenue dept for solvancy certificate and they will after taking into consideration of all other assets will issue a certificate for a value of worth which will be valid in court. And now a days twenty thousand is nothing.
There are also provisions for surity in form of financial assets and the court will agree because the reasons for asking of surity for insurance against malafide claims or third party claims.
