Karthik 14 July 2015

Rent agreement validity

What are the mandatory items to be present in a rent agreement for it to be valid. I have given a list below please let me know if it is correct.

1. The stamp paper must be of value Rs.20

2. The stamp paper must be bought in the name of either the house owner or the tenant

3. The agreement should be for a duration of 11 months

4. Two original agreements can be made and one can be with the house owner and another with the tenant

Please let me know.

Thanks

Reply Follow

4 Replies

saravanan s (legal advisor) 14 July 2015

it depends on the state in which you are residing.in some states 20 rs non judicial stamp paper is enough.

got to be in the name of the house owner

yes eleven months agreement is called leave and licence agreement

no need. photocopy duly signed by both of you in each page is enough for the tenant

Karthik 29 July 2015

I am hearing that there is a new rule present from Nov 14 that all rent agreements should be registered in registrar's office even if it is for 11 months, in Tamil nadu. Is this true ?

adv.bharat @ PUNE (Lawyer) 05 May 2016

1) In maharashtra Rs. 500/- stamp paper is require for leave and license.

2) stanp paper must be brought in name of house owner since it specify that owner had paid the duty by his own.

3) duration is dependup on will of party. Generally 11 month agreement is leave and license beyond 11 month it is termed as lease Deed.

4) Just make true copy from notary to use it for any other purpose.

Thanks

(Guest)

Q 1 - The Stamp Paper must be value of Rs. 20/- ?

It depends on your State, each State have Seperate Stamp Duty set by the Government for ex: The Stamp Paper for Agreement in Delhi is Rs. 50, so you need to check out that what is the stamp duty in your state.

Q 2 The stamp paper must be bought in the name of either the house owner or the tenant?

The Stamp paper is bought in the name of both i.e The First Party and Purchaser will the Owner and Second Party will be Tenant.

Q 3 The agreement should be for a duration of 11 months?

It's depend on the Owner and Tenant that for how much duration they want to execute the Rent Agreement. Gerneally, the Rent Agreement is made for 11 months.

Q 4 Two original agreements can be made and one can be with the house owner and another with the tenant ?

NO! Only single Rent Agreements needs to be made and the Owner keeps it, however if tenant also wants to Keep the copy of Rent Agreement so the Photocopy of the Rent Agreement is fine to keep.

You can refer this blog to know more about What is Rent Agreement and how to make- https://www.edrafter.in/make-unregistered-rent-agreement/

Regards,

https://www.edrafter.in