Rent agreement
Querist :
Anonymous
(Querist) 13 October 2011
This query is : Resolved
Hi,
I have sm queries relating to rent Agreements. These are;
1. I want to create rent agreements for a total period of 33 months, renewable after every 11 months by one month notice. Do i need to register the Agreements or only notarisation is sufficient.
2. From where to purchase stamp paper suppose the property is in Mumbai and the lessor is in Delhi and the lessee in Mumbai, Can i purchase stmap paper in the name of lessor in delhi and get it notarised in delhi. What should be the value of stapm paper.
Shastri J.K.
(Expert) 13 October 2011
1- only notarisation is sufficient.
2-where U want to create rent agreements.
M.Sheik Mohammed Ali
(Expert) 13 October 2011
no need registration,
you can buy any where no problem.
Advocate M.Bhadra
(Expert) 13 October 2011
It is better for you to make a Leave and License Agreement in place of Rent Agreement.This type of agreement no need to registration.You can purchase the stamp papers for that purpose from any where,but you better to purchase the same where the property is situated for future problem if arise.
Guest
(Expert) 13 October 2011
buy the stamp paper where the property situated.
prabhakar singh
(Expert) 13 October 2011
1. I AM SORRY TO DIFFER WITH EACH OF OPINIONS.
ANY LEASE AGREEMENT BEYOND A YEAR REQUIRES PAYMENT OF PROPER STAMP AND REGISTRATION WITHOUT WHICH THE SAME IS INVALID AND CAN NOT BE USED AS EVIDENCE.
HENCE OPINION THAT ONLY NOTARIZATION OF SUCH AN AGREEMENT WHICH IS FOR 33 MONTHS WITH RENEWAL OPTION OF 11 MONTH CAN BE DONE BY A SIMPLE NOTARIZATION IS BAD IN LAW.
section 107 of transfer of property Act which runs as under is the refresher for those minds over looking it"107. Leases how made.—A lease of immoveable property from year to year, or for any term exceeding one year or reserving a yearly rent, can be made only by a registered instrument.
2[All other leases of immoveable property may be made either by a registered instrument or by oral agreement accompanied by delivery of possession.
3[Where a lease of immoveable property is made by a registered instrument, such instrument or, where there are more instruments than one, each such instrument shall be executed by both the lessor and the lessee:]
Provided that the State Government may4[***] from time to time, by notification in the Official Gazette, direct that leases of immoveable property, other than leases from year to year, or for any term exceeding one year, or reserving a yearly rent, or any class of such leases, may be made by unregistered instrument or by oral agreement without delivery of possession.]"
prabhakar singh
(Expert) 13 October 2011
i also remind that even a leave and licence agreement may require registration if the state law so requires and in maharashtra the same is the position that owner him self has to register it ,if he fails the oral case set up by licencee shall preponderate against the
written conditions of agreement and not the plea of owner but the plea of licencee shall prevail in court in such a condition.
i hope none minds me and also await Mr.SETHI to opine and correct me as he is a mumbai practicener .
Raj Kumar Makkad
(Expert) 13 October 2011
I endorse the views of prabhakar singh and request other experts to please reply to queries after obtaining prior knowledge over the issue in dispute/discussion.
ajay sethi
(Expert) 13 October 2011
mr prbhakar singh is absolutely correct .
by rent agreement i presume querist is mentioning leave and licence agreement . (correct me if i am wrong)
registarion of leave and licence agreement is mustif period is of 33 months . in addition the document must be adequately stamped . the stamp duty payable would depnd upon licence fees and secuirty deposit taken by licensor . in the absence of these details i cannot mention the value of stamp paper required .
registartion is responsibility of the licensor . if agreeemnt is not registered licensor cannot rely upon the said agreement
Querist :
Anonymous
(Querist) 14 October 2011
Sir I have also referred Transfer of Property Act which says that the lease of immoveable property from year to year, or for any term exceeding one year or reserving a yearly rent, can be made only by a registered instrument.But in case the agreement is for 33 years it fall niether in the above 3 categories.As the agreement is giving option for renewal after every 11 months. Actually i have seen some companies making agreement for 33 months.In my personal opinion i can make agreement for 33 years without registration. I may be wrong. I also want to know suppose if there is no dispute between the parties an every thing goes smooth what other difficulty a company can face if it does not get its agreement registered.
Thanks to every one for answering my query
Poonam
prabhakar singh
(Expert) 14 October 2011
My great learned friend "HATS OFF TO YOUR KNOWLEDGE"we lack what you possess.No more no less now this discussion.
Querist :
Anonymous
(Querist) 14 October 2011
Thanks for your Hats Off
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