Rental
Panecia garg
(Querist) 15 March 2014
This query is : Resolved
There is a company ABC Pvt Ltd having two directors Mr. Asit Dhar and Mr. Govinda Chatterjee. The company intends to purchase a flat from Mr. Madhu Mandal at Rs 18 lacs. Company has given an advance of Rs. 10 lacs in cheque to Madhu Mandal and is in process of paying rest amount. An agreement for sale is done on plain paper. After payment of balance amount the sale registration will be done.
Meanwhile The director Mr. Asit Dhar wants to sublet the flat on rent. The company and other director Mr. Govinda has no objection for that.
Can this subletting be done ? Is there any legal obstruction? What measures can be taken? How to proceed about the matter?
Guest
(Expert) 15 March 2014
First of all it is a commercial query.
Secondly, you have not mentioned how you are concerned with the matter?
Thirdly, the experts here are supposed to provide solutions to genuine legal problems free of cost to the really affected individuals, but not to any company or corporation.
I suppose, your company can well afford fee of a lawyer for the purpose.
prabhakar singh
(Expert) 15 March 2014
A business has motive of profit then it should not look things for free.
Hemant Agarwal
(Expert) 18 March 2014
for "Panecia garg" :
1. IF the property is to be given on rent, before actually executing the "Sale Deed /Agreement", THEN it would lawfully prudent to obtain a "specific Power of Attorney" from the Seller, in favor of the Buyer, duly executed on a 500/- stamp and duly registered.
2. The "specific Power of Attorney", would have to be drafted appropriately, by your local lawyer, with relevant clauses, to safe-guard the buyer of the property.
Keep Smiling .... Hemant Agarwal
http://hemantagarwal21.blogspot.in/?view=sidebar
T. Kalaiselvan, Advocate
(Expert) 16 March 2014
