Lease for residential use
Nishanthini
(Querist) 29 May 2012
This query is : Resolved
Hi,
We are planning for a move. We saw a house also for lease. The lease period is for 2 years. The lease amount is Rs. 3 lacs. We are planning to pay the amount initially itself. The owner of the home is in abroad. So his relative is doing all the necessary thing here. is the lease deed need to be registered? If yes, then how to register it? Shall i pay the amount in cash or cheque? Which is safe?
Adv.R.P.Chugh
(Expert) 29 May 2012
1. Yes certainly, any lease for a period of one year or more or reserving an yearly rent is required to compulsorily registered.
2. Have a meticulously drafted lease deed, take assistance of a local lawyer, shouldn't cost you much, a major part would be the stamp duty (rate depends on state)
3. Pay the amount in cheque, and in my view a premium of 2 years in a single go is certainly not advisable.
Feel free to talk !
ajay sethi
(Expert) 29 May 2012
contact a local lawyer . all payments should be made by cheque . get agreement drafted by lawyer . have it duly stamped and registered
Mahadeva Rao G
(Expert) 30 May 2012
I agree with the Experts above, Further I would like to add that If the owner is abroad and his relative is handling all the dealing in such case PLS ENSURE THAT A PROPER REGISTERED POWER OF ATTORNEY ( SPECIAL ) OR ( SPECIFIC ) is executed by the OWNER in favour of such relative. So based on the Registered deed of attorney check for the powers given to him and then proceed. It is safe to issue cheque and ensure that the cheque number is entered in to LEASE AGREEMENT and get the same registered at jurisdictional sub-registrar office. I also suggest engage an advocate to ensure all the documentation are in proper order to save yourself from any possible future problem.
Shonee Kapoor
(Expert) 30 May 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
