Rent
kaushikphm
(Querist) 01 October 2009
This query is : Resolved
Dear Sir,
My sister and myself plan to partition our property which is in both are owners.
I am going to take a shop in the groundfloor and two room in first floor.
The shop which is rented, my sister received some amount and adjusting her rent for the debt and she is not having money to pay principal amount to release the debt. She is advising me to receive monthy rent from her without disturbing the tenant for some month after partition.
She is providing monthly rent receipt to the tenant.
Please advise me whether we can accept her advise.
Kiran Kumar
(Expert) 01 October 2009
kaushik ji ur query is a bit unclear.
from whom she has taken amount from the tenant or from some one else?
how she is making committment of paying rent to you when she is to pay off her debt out it?
pls clarify above points.
one another thing i must tell u, generally in terms of rent laws in various states, a person who recives rent can be a landlord, a landlord need not be an owner.
kaushikphm
(Querist) 07 October 2009
Dear Sir,
Pt:1, She has taken cash loan from tenant.
Pt:2, We are having 3 shops and collecting half rent from them.
We planned to continue the same way for the rent. But, we will issue rent receipt to rhe shops in their name after partition.
Please advise me sir.
Sachin Bhatia
(Expert) 12 October 2009
In my opinion it will be better for you to receive rent from the tenant and your sister pay her monthly instalment to the tenant for her debt . But considering your family relation if you have faith/trust in your sister then you can go with her suggestion.
