Use of property

Lalit (Querist) 29 August 2013 This query is : Resolved
Dear sir,
We want start hotelling business in a premises which is owned by my friend but for the use of his premises we have decided to share profit.

I will give him 60% of net profit as return for use of his premises.

I dont want to make partnership deed.
Can I do this business as a proprietorship.
Please help me...

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Guest (Expert) 29 August 2013
No ready made deed. Better hire services of a local lawyer, give him full details and get the deed prepared.

Lalit (Querist) 29 August 2013
Sir what kond of agreement can I make in this case?

R.K Nanda (Expert) 29 August 2013
no fixed format for it.

Rajendra K Goyal (Expert) 29 August 2013
Consult your lawyer to discuss the terms and format of the agreement.

Raj Kumar Makkad (Expert) 30 August 2013
Trust upon your lawyer as he is in better position than us.

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