Hello, My uncle owns a property in bangalore. Both of us are investing equally on the construction of rental home in his property. We intend to share the rental returns for the next 50 years. 1. What kind of contract or agreement we should get into to share the rental returns for 50 years 2. How do I protect my investment so the property is not sold till 50th year by him or his children (after him) as I have invested quite a big sum in the construction My intention is to earn 50% of the rental returns from this property for the next 50 years
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1. You may have to enter into an investment agreement with your uncle containing the details of investment by both for construction, for payment of rental amount to the property owner and the terms to divide the rental income from the property.
2. The registered agreement should contain this condition.
You can consult a local lawyer and get the agreement drawn with the mutually agreed conditions and get it registered, which would protect your future interests.
Enter into MOU or development agreement with uncle that in lieu of x amount being invested by you on development of property you would be entitled to 50 per cent of rentals for next 50 years
register the MOU or development agreement
Dear Sir,
You have to enter into long term registered lease deed in some cases even Government lease out its property to private persons for 99 years. The lease document must be drafted very cleverly.
1. Simply speaking, you both can register an agreement for sharing the rent for next 50 years.
2. There are several fault lines in the project viz., the property will stand in the name of your Uncle. So, what will happen if the constructed is destroyed and/or becomes uninhabitable for renting out? It will be prudent on your part to acquire title of the property up to the portion valued equal to the amount you are going to invest in the project.
Dear Sir
Enter into an agreement with your uncle to share the rent for the next 50 years.
A lawyer can help you in drafting the agreement and its terms appropriately
Thank you
You can execute a registered agreement for the same between you parties.
By putting such clauses in the agreement
The said intention can be executed through an agreement
