Leave And License Agreement Registration Act
Leasing is an herealical right. A license is personal and exclusive to the licensee, i.e. with the death of the licensee, it is automatically terminated. The registration fee for a rental contract in Maharashtra, depends on the location of the rental. The registration fee is Rs 1,000 if the property is below an urban corporate area and it is 500 aff. if this is the case in a rural area. In the absence of a contrary agreement, the tenant bears the costs of stamp duty and registration. These are the general provisions that must be included in a leave and licensing contract. These characteristics are not exhaustive and not all of these features can be included in an agreement. It depends on the conditions agreed between the licensee and the licensee. It is important that you hire a good lawyer to carefully design your vacation and licensing agreement and lead you to pay stamp duty and registration.
If the agreement is not well drafted, chances are that the licensee could do something wrong by claiming the right to your property, which can lead to the property being blocked for a number of years in litigation. To register the contract, you will need some basic documents from the tenant, landlord and witnesses, such as a passport-sized photo. B, a photocopy of proof of identity (for example. B PAN card) and the electricity bill or real estate document such as index II or receipt of taxes from the property that is rented. Ideally, the following licensing conditions should never be omitted from your contract – as with any lease, lease or, in the case of Mumbaikars, the leave and licensing agreement is an important document. The holiday and licensing contract is a popular alternative to rental contracts in most Maharashtrian cities. Unlike the tenancy agreement, it takes more account of the needs of the landlord and does not create “tenants”. The basic framework for stamp duty is defined in the Indian Stamp Act of 1899, which allows states to change the same rules according to their needs. As a result, the Maharashtra government passed the Bombay Stamp Act in 1958. The payment of stamp duty on leave and licensing agreements are covered by Section 36A of the Bombay Stamp Act of 1958. An owner wants to earn income from the asset by renting it out.
At the same time, the owner may also be concerned about the effects of the rental fee. In some cases, these laws give the licensee legal rights on the premises. Holidays and licensing are a way in which the owner can use the premises well without fear of losing them. To do so, however, it is necessary that the leave and licence contract be carefully developed and registered with the government. If this is not the case properly, the legal rights to the property may be claimed by the licensee and the property may be suspended for several years in litigation.