Dear Sir,
I have a land in my name(A) and the building constructed on the piece of land is in the name of the partnership firm(xyz firm) where in me and my wife are the only partner.
Now we have leased out the property to one second party where in in the lease deed it is mentioned that both A and XYZ is the lessor.
So far the lessee was paying rent to my firm (xyz). But now they are saying as the land is in my name(x) they shall make the payment in my name only. They have stopped paying me rent.
But I have constructed the building making investment from my firm (xyz ).And in my IT file entire construction investment is shown in my firm name only. So I am unwilling to accept the lessee 's proposal and I am telling them to make the payment in my firm (xyz) only.
For your information There is no lease deed between my firm and me which states that my firm can construct and lease it out to third party.
And if I have to correct my documents to meet their demand and want to lease it to my firm i shall have to bear a huge lease deed registration fee. Also if i have to transfer the building to my own IT file , I shall have to bear capital gain tax which is huge again. This burden are so huge that if the lessee pay me the cost then only I can do otherwise not possible.
My question is
1 Is the lessee right in saying that they will not pay the rent in my firm name?
2 . Does it need be matter of concern for the lessee as to who should they pay the rent when both me and my firm are both party to the lease agreement with them ?
3. What should be right course of action to be taken from my side so that they are compelled to make the rent in my name only?
Regards
Prashant
