which document/deed Required to be Prepared
sundar sastri jain
(Querist) 17 July 2014
This query is : Resolved
I have been approached by Goldsmith,to let out my vacant shop, as the shop is vacant and Goldsmith unable to pay much rent, He Requested me to Give my Shop on Seating Capacity basis, by which the Goldsmith will pay me Rent for his seat basis, Total capacity is 10 members, Balance 9 seats i can rent out to members whom i wish to.
Qt 1) What agreements are required?
Qt 2) Do you advice for let out?(i am forced to let out due to paucity of funds)
Devajyoti Barman
(Expert) 17 July 2014
Get a leave and license agreement executed between you two.
Raj Kumar Makkad
(Expert) 17 July 2014
It is your sweet desire to let out or not as the property belongs to you. We can only advise about legal issues. You should execute Leave and License in clear terms.
sundar sastri jain
(Querist) 17 July 2014
So Respected Expert, Leave and license agreement of All 10 members to be done Individually? Is the requirement of Registration to be fulfill for more than 12months?
sundar sastri jain
(Querist) 19 July 2014
Leave and license of all 10 member's required ?? It is like like library system where members are allowed to sir in their individual capacity.
Atlas Eva
(Expert) 20 July 2014
Dear Sundar, u can enter into a MoU or a Facility Provider agreement instead of leave and license.
Do consult a attorney nearby your place, he will assist u to draft it.
Raj Kumar Makkad
(Expert) 20 July 2014
Individual agreements are required to be executed. MOU is not possible in your case because you have one person right now and subsequently new tenants might be coming at no fixed time so better to go with Leave and license.
