Visitors: The agreement must contain a clause on who can visit you and when. Until a lease is registered at the shelter, it has no validity. It is in favour of both parties to draw up an agreement with certain conditions and to register it. After the lease is written, the owner should print it on stamp paper. As soon as the tenant and landlord sign the documents in the presence of two witnesses, they must report them to the sub-registry service after payment of the necessary fees. Unregant rent is never evidence in court. This is only collateral evidence and cannot be used to prove his claims. Therefore, the registration of rental rates is very important to be safer. The Registration Act of 1908 requires the registration of a lease if the tenancy period is more than 11 months. Stamp duty – Tax is paid to the government when an agreement or transaction is established. Stamp duty is calculated based on the value of the transaction. It is paid to the government by purchasing stamp paper at fair value. Another type of popular rental is to get long-term rent for a number of years.
There is no monthly rent to be paid by the tenant. At the end of the rental period, the landlord must return the rent amount to the tenant. Electricity, water and maintenance costs must be paid regularly by the tenant. No interest is paid on the amount of rent. Maintenance: The contract must clearly state who must pay the monthly maintenance fee. The reason for the notarization of many stamp sellers is that the unregant document is considered legal proof of address with the notary`s seal, but there is no legislation to explain it. The notary`s seal simply says that you testified before a notary. To complete the registration process, you will also need two witnesses to sign the agreement. Once your lease is registered, it becomes a legally authorized document and can be used as evidence if the transaction goes wrong and comes into dispute.
Amit rented his apartment in Vikas for rent. He made the agreement on the stamp paper of value. But he did not record it in the lower house. The agreement was signed by both parties. For the first 4 months, Vikas paid the rent correctly. the rent was set at Rs 5000. After four months, Vikas ended the rent payment. Amit went to the Court of Justice. Although his consent was duly paid, the court refused to accept the act as evidence.
Vikas claimed that the rent was only 1500, not 3,500/, as Amit claimed. He also refused to sign the deed and totally denied entering into an agreement with the owner. As the document was not recorded, it could never be used as evidence and, for lack of evidence, Amit lost the fight. In order to reduce costs, tenants and landlords sometimes agree orally on the lease and avoid the execution of a tenancy agreement. At one point, they also document the agreement and set the terms of the lease, but decide not to register the document. This is due to the fact that both parties must pay a registration fee when a lease is entered into and registered. The lessor is also required to declare his rental income as soon as the lease is final.