Tenancy/lease

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Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2014 My Company is proposing a Lease of a plot with unrelated Company.My company is the Tenant or Leasee in the case. Please clarify the procedure.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 May 2014 tenant and leasee is one and the same thing...who owns the land?

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2014 Say we are Company X and the plot is owned by Company Y.Y is leasing the plot to X .Now please say the procedure to be keptin mind by X

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2014 Say we are Company X and the plot is owned by Company Y.Y is leasing the plot to X .Now please say the procedure to be keptin mind by X

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 May 2014 nothing. get a lease agreement done. look for a longer period lease with a lock-in clause to start with. clearly define lessor's liabilities for dispute on title of the property etc

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Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2014 What my observations are:
1 Get Lease deed done
2. Get a Board Resolution from the Comapny Y for Authorisation 179 of Cos Act 2013
3. If the Lease is more than 11 month get it registered and Stamped.

Please correct me if I m wrong and add if any thing else needed.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 May 2014 well if you really want to check whether the board of the company Y has the power to sign lease or not, then get the resolution before the lease is done.

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