Roja (Manger - taxaxtion accounts) 09 February 2015

Lease rental agreement - firm

Dear Sir,

Please advice me on my issue.

I have one Firm and having 5 partners and firm now decided to give their building for lease rentals to different shops.

Now my query is while drafting lease agreement, whether we need to draft in the name of Firm and representing firm by any one active partner name is enough

or

we have to mention the Firm name and down we need to write all partners and their address in "LESSOR" column

which correct as per legally. please advice on this issue.

In addition to this, please share if any draft copy of shoppes lease rental agreement documents by Firms

Thank you very much for your help.

Regards
Roja.M

Reply Follow

2 Replies

Jatin Mittal (Corporate Lawyer) 18 March 2015

Hi Roja

It is advisable to enter the names of all the partners to avoid any future conflict between you people, because writing the name of firm only will not serve you any special purpose. For any more information write to me at mittaljets@gmail.com. No charges for consultation.

Adv. Mandar Pimpalkhare (Advocate) 05 May 2015

Hi Roja

Agreed with Mr. Mittal as he advised to avoid future conflict between partners. However if the property is owned by firm, the lease agreement needs to be executed in the name of firm. however to avoid future conflict you may take one resolution in favour of one partner for executing the lease deed.