Registering Rental Agreement
Querist :
Anonymous
(Querist) 12 July 2011
This query is : Resolved
Dear Expert,
I would like to rent out one of my shops to a person and he is asking for shop Land Agreement copy for registering with Panchayat, we have written a rental agreement for 11 months and I don't have any idea about registering this document, so can you please tell me whether SHop land agreement copy is required for registration or the copy of building tax receipt will do it? is there any problem if I give the agreement copy to him, is there any thing alse I need to be taken care while renting out the shop?, so it would be very kind of you if could give me an answer for this.
Querist :
Anonymous
(Querist) 12 July 2011
Thanks a lot for your Quick reply, can you please send me a sample shop leasing agreement so that I can create the agreement in the same format - if anything is already available in the forum then please provide the link - Thnks in advance.
Raj Kumar Makkad
(Expert) 12 July 2011
There is no requirement to register the said agreement with Panchayat or any other authority as the same is already executed. One copy may be given to tenant.
Querist :
Anonymous
(Querist) 12 July 2011
Thx for your reply Raj Kumar ,That was actually our intention but the tenant requested us to do the registration since he is looking for some panchayt loan for starting a small scale industry and it requires lease registration ( that is what he told) so is there any negative part for doing the registration by givingthe land agreement copy ?
prabhakar singh
(Expert) 12 July 2011
IF YOU GO FOR REGISTRATION,REGISTER A FIXED TERM LEASE WHICH EXPIRES IPSO FACTO BY ELAPSE
OF TIME FIXED IN LEASE UNLESS A FRESH LEASE IS CREATED.
AS REGARDS TO DRAFT OF A LEASE,LOOKING FOR A READY MADE IS NOT A GOOD WAY TO PROCEED WITH AS WE PREPARE THEM ONLY SUBJECT TO TERMS AGREED BY PARTIES.
SO BETTER HAVE SERVICES OF A LAWYER ELSE
a form for your help and not for ready to use is provided on site cited below;
http://www.irac.pe.ca/rental/forms/rentform1.pdf
Sailesh Kumar Shah
(Expert) 25 July 2011
According to Section 17(1)(d) of the Registration Act, 1908 that there is no need for registration in your case.
