Mehul (CA) 02 April 2013

Life time given free use of property for busines

hi every one, Can any one help to regarding my quary ? Matter is that father give a portion of his business premises for use of his Son's wife for her business purpose for life time. Father given that portion of property for life time to his daughter in law for rent free but any expenses related to said property used by her will be paid by her only. so my question is that whether i have to make a lease agreement of gif deed or any other legal documents ? whats its formalities and how much rupeee of stamp paper is needed for life time lease agreements? my id is " ca.mehulrchauhan@gmail.com

Reply Follow

2 Replies

Manish Udar (www.Mehnat.IN) 02 April 2013

What happens if she divorces the son?

www.mehnat.in

venkatkrishna (AGM) 03 April 2013

Simple Agreemnet mentioning the nature of handingover the premises premises to his daughter-in-law with all other terms and conditions and can be notarised / registered. In case of Rental or Lease Agreement registration is compulsory as the stamp duty will be calculated based on the rent fixed. in this case, simple Agreement / License Agreement without consideration can be executed.

regards.

Krishna Vaishnav