Lease of property to son out of love and affection
Er.SUNIL VASUDEVAN. M.Tech, LL
(Querist) 28 May 2024
This query is : Resolved
I have commercial building in my sole name. Can I lease it to my son free out of love & affection so that he can sublet it and make income in his name and file his IT returns accordingly
T. Kalaiselvan, Advocate
(Expert) 28 May 2024
You can transfer your property either by a registered settlement or gift deed on free of cost out of love and affection or even a sale deed for some consideration amount, but you cannot lease out your property even if it is your son at free of cost, there has to be some monthly rental amount to recognise the legally valid lease agreement
Advocate Bhartesh goyal
(Expert) 28 May 2024
You can lease the property to your son on nominal rent with liberty to futther sub-lease but can't lease out free of cost.
kavksatyanarayana
(Expert) 28 May 2024
The leaseholder cannot give it to the sub-let. You can gift it or transfer the property through the sale deed to your son.
SIVARAMAPRASAD KAPPAGANTU
(Expert) 30 May 2024
Why this round about method of leasing to your Son and your Son subletting to get some income? Is there any specific reason for that?
P. Venu
(Expert) 04 June 2024
"Can I lease it to my son free out of love & affection ....................!" Such a concept conveyance is unknown to law.
