I have given residential house to someone who wants to use it for commercial purpose.The tenant wants to make rent agreement from the name of his firm. Can rent agreement be made between the firm and an individual and the house is registered on my mother's name. Can rent agreement be made between her son and the firm of the tenant and what will be written in the rent to make it legal. How much stamp duty will be used if the rent agreement is made for 11 months. Please help. From where the required document should be attested. Can it be attested by notary is the period for rent agreement is for 11 months. How should I play safe and is it safe to make rent agreement between the firm and me who is the son of the landlady( owner of the house)
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rent agreement shall be made on stamp paper valued rs 100, no other fee/duty is applicable, it should be notarized before the notary commissioner.
only owner of the flat can let it on rent, in contra a person specially empowered by the owner through POA shall execute rent agreement in his name.
1) rent agreement can be made between firm and mother as she is owner of the house
3) rent agreement cannot be made between firm and owner son
3)stamp duty is state subject and varies from satte to state
4) rent agreement should be regsitered
5) if your mother excecutes POA in your favour i rent agreement can be done between firm and you
A. Execution of Rent Agreement between House owner and Firm (Partnership Firm) by representing through its Authorized Partners is permissible in the eyes of law. However, you have to check the Partnership Deed as to whether the authorized person duly authorized by the other partners or not? and Whether the Partnership deed is registered or not as per the Indian Partnership Act?
B. As I said, owner or GPA holder of the owner of the house can enter into rent agreement. Moreover, the payment of stamp duty is different to state to state. However, according to sources, 1.5% stamp duty on average annual rent till 5 years and 3% is applicable is more than 5 years.
C. Attestation of notary is optional. No registration is required below one year. Or License agreement can be execute instead of Lease cum rent agreement.
