Lease Registration
Lease Deed/Rent Agreement pertains to the contract of leasing and renting of a property between the parties wherein one party/tenant agrees to pay a fixed amount to other party/owner every month.
A well-written lease deed needs to be clearly formulated and free from any ambiguity and in proper flow in order to maintain the cordial relationship between the lessor and lessee and to avoid any encumbrances in future.
The term ‘Lease’ has been defined under Section 105 of the Transfer of Property Act, 1872 as:
“A lease of immoveable property is a transfer of a right to enjoy such property, made for a certain time, express or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on specified occasions to the transferor by the transferee, who accepts the transfer on such terms.”
Lessor, Lessee, Premium and Rent is defined under Section 105 of the Transfer of Property Act, 1872 as:
“The transferor is called the lessor, the transferee is called the lessee, the price is called the premium, and the money, share, service or other thing to be so rendered is called the rent.”
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According to the Section 107 of the transfer of property Act, 1882 and pursuant to of section 19(1)(d) of the Transfer of Property Act, 1882 and Section 19 (1) (d) of the India Registration Act, 1908 respectively it is mandatory to register the lease deed of an immovable property for a lease term exceeding one year or in such as a system of yearly payment of rent, such as Agricultural land etc. where lease deed is not registered such deed shall be treated as null and void.
Yes, verbal tenancy agreement are legal but are not recommended as that is difficult to enforce as there is no proof of anything. So that might create an issue in the future.
Yes, landlord is liable to refund the security amount if there is no dispute between the parties and there is no violation of any term mentioned in the lease agreement.
Yes, landlord serves a notice to tenant to vacate the property within time limit mentioned in notice. If tenant refuse to do the same, landlord can move court.
Landlord can serve a notice of vacation of property or pay the rent, if tenant fails to do the same, landlord can approach local court.
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