Lease deed

Toral Sampat (Querist) 30 January 2013 This query is : Resolved
Respected Experts,

QUERY:
LEASE AGREEMENT being entered into between two Indian Parties, one being an Individual(Couple)(LESSOR) and the other being a Company(LESSEE)

The situation is that the LEASED PREMISES will be for exclusive residential use of the employee of the Company, who is an NRI.

MY MOST IMPORTANT QUESTION IS:

A. Will his NRI status affect the leasing procedure?;

B. Does any documents are required from the employee side?;

C. What important clauses shall be included in the LEASE DEED.

D. Also please inform the necessary approvals, registrations and permissions to be taken for him.

Thanking you all in advance.

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Adv.R.P.Chugh (Expert) 30 January 2013
A. No - the contract is between the lessor and the lessee. Nationality of the employee of lessee inconsequential.

B. No.

C. Consult your advocate. Too numerous to enumerate.

D. If it's for more than a year - get it registered.

Raj Kumar Makkad (Expert) 02 February 2013
I do agree with bharat on all points except the reply of clause D.

The registration is must for the period of more than 11 months.

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