Rent / Lease
This query is : Resolved
09 July 2008
All the RENT agreements I have seen mention that the LEASE agreement is for 11 months. My question in this regard are:
1)Why is it that eventhough the title of the agreement says "RENT AGREEMENT" the wordings in the agreement are"LEASE AGREEMENT".
2)Why the lease agreement is always entered into for 11 months only?
3)Normally the agreement so entered are not renewed after 11 months eventhough the tenant continues to occupy the property. What is the effect of non renewal?
4)How does one determine the amount of stamp paper to be used for rent agreement?
Kindly answer questionwise.
1)Why is it that eventhough the title of the agreement says "RENT AGREEMENT" the wordings in the agreement are"LEASE AGREEMENT".
2)Why the lease agreement is always entered into for 11 months only?
3)Normally the agreement so entered are not renewed after 11 months eventhough the tenant continues to occupy the property. What is the effect of non renewal?
4)How does one determine the amount of stamp paper to be used for rent agreement?
Kindly answer questionwise.
09 July 2008
1.Rent agreement and lease agreement are same.
2. Not always, it can be for higher period. It may be to avoid registration.
3.Such non-renwal may make the relationship on month to month tenancy.
4.The Rental value for the period.
2. Not always, it can be for higher period. It may be to avoid registration.
3.Such non-renwal may make the relationship on month to month tenancy.
4.The Rental value for the period.
09 July 2008
Thanks for your response. I request you to please answer some more of my questions in this regard:
1) Does the lease agreement has to be registered if it exceeds 11 months? With whom it has to be registered?
2) Does the agreement has to registered AGAIN on its renewal?
3)In case of non renewal of a 11 months lease agreement, does all terms like notice period etc. cease to be legally binding?
4)Does one has to refer to Stamp Act to determine the value of stamp paper to be used for agreement?
1) Does the lease agreement has to be registered if it exceeds 11 months? With whom it has to be registered?
2) Does the agreement has to registered AGAIN on its renewal?
3)In case of non renewal of a 11 months lease agreement, does all terms like notice period etc. cease to be legally binding?
4)Does one has to refer to Stamp Act to determine the value of stamp paper to be used for agreement?
02 October 2008
1.Yes.
2.Yes.
3.The lease expires at the agreement term
4.Yes.
2.Yes.
3.The lease expires at the agreement term
4.Yes.
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