Land lease
This query is : Resolved
harsh malpani
(Querist)
29 October 2015
please help.me out with this .I am opening a school for which I have formed a trust. I have the land in my mother's name.what I am planning as property in the name of trust is a delicate issue I am planning to lease the land to the trust and where there will be a lease agreement between trust and my mother where she will get lease rent.also as the land will be leased to trust and as the trust does not have any funds to construct the school building in the lease agreement there will be a clause that owner of the land will construct the school building for the purpose of the school and against which he will get rent as agreed upon and there will be a separate rent agreement renewable yearly between the trust and the owner .so the land owner will get lease rent as well as buildind rent and there will be no property in the name of the trust. Is this process OK as per laws .I am in a deep fix .Please advice me
thank you
CA R SEETHARAMAN
(Expert)
29 October 2015
Trust can take on rent land and building for running school. There can be no property in the name of the trust.
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