Acquisition of premises on lease
rahul
(Querist) 26 August 2014
This query is : Resolved
Respected Sir/ Madam,
I have received offer for premises on lease for the purpose of business. The offer premises is having three separate shops in the name of three different owners which are not related each other. These shops are separate by common wall. They would be giving their premises after dismantling the internal walls.
I would like to know whether I can technically consider it as suitable in view of the different ownership.
What will be the legal complications will ariseing in future? As far as
1) execution of lease deed with them jointly or indepenandantly?
2) about obtaining of three phase connections from each one of them.
3) payment of rent in proportionate with their share in the premises.
Please convey your valuable advice in detail about this matter.
Devajyoti Barman
(Expert) 26 August 2014
If the premises which is three in number becomes physically one then those will have to be amalgamated and given one holding/premises no.
In alternative make inside entrance in the walls without demolishing the whole walls so the shops can be identifiable separately.
Rajendra K Goyal
(Expert) 26 August 2014
You can enter into separate agreement with each other, clearly mentioning that you would be having power for doing any addition alteration and dement-ling common wall with other shop / shops.
Take assistance of a local lawyer to draft suitable agreement to cover area where dispute can be raised in future or need to be included in to agreement.
Alternately you can enter into joint agreement as advised by the expert.
ajay sethi
(Expert) 26 August 2014
enter into separate agreements with 3 shop owners .pay rent separately to 3 shop owners
rahul
(Querist) 26 August 2014
Thanks a lot all the Honorables,
But what about their proportionate rent and also electric meter rent? What is the provision on this issue?
