Lease agreement for co-ownership property
ashit
(Querist) 11 August 2011
This query is : Resolved
Is lease agreement made with one single Co-owner of Co-ownership property is valid? If so, is it valid by taking the permission from other Co-owner in the form of an Affidavit?
Can agreement can be made with a single Co-owner by taking permission from other co-owners in the form of an Affidavit?
Kindly advise me in case of
1) Co-ownership of wife and husband
2) Co-ownership of other than wife and husband
Whether the aforesaid Lease Deed can be registered ?
Whether Rent will be paid to both co-owners ? If one give permission to another in the form of Affidavit, is it valid to pay rent to one co-owner? please advise me
Kindly advise me
M/s. Y-not legal services
(Expert) 11 August 2011
Is lease agreement made with one single Co-owner of Co-ownership property is valid?
NOT VALID.. BOTH OF THE CO OWNERS TO BE SIGNED IN LEASE AGREEMENT. OR IF A CO OWNER PERMIT THE OTHER CO OWNER TO ENTER IN TO ANY AGREEMENT MEAN HE CAN.. [LIKE P.O.A]
EVEN THIS IS REPEATED QUERY..
Raj Kumar Makkad
(Expert) 12 August 2011
1. One co-owner can lease out only his share and lease upto that extent is legal in all cases whether co-owners are husband or wife or otherwise.
2. Merely Affidavit given by one co-owner in favour of another to lease out his own share do not provide legal authorty so it is better to have Power of Attorney in such matter. Rent can be received on the basis of affidavit.
M V Gupta
(Expert) 13 August 2011
Yes. Both the co-owners have to execute the lease deed and register it. If one of the co owners, for any reason, is not available, he should authorize the other to execute the lease deed and register it on his behalf, by giving a power of attorney.
