17 Mar, 2022
11 Month Leave and License Agreement Registration
Posted by: Hector Danilo Pompa Dominique In: Uncategorized
If you`re a property owner in India, you`ve likely heard of a “Leave and License” agreement. It`s a legal document that establishes a landlord-tenant relationship between two parties. This document is necessary if you`re renting out your property to someone for a certain period of time. However, did you know that you can register a “Leave and License” agreement for an extended period of 11 months? Here`s everything you need to know about the 11 month leave and license agreement registration.
What is an 11 Month Leave and License Agreement?
An 11 Month Leave and License Agreement is an agreement between a landlord and tenant, where the landlord allows the tenant to occupy their property for a period of 11 months. This agreement is usually used when the landlord wants to rent out their property for a short-term without executing a long-term lease. The landlord can renew this agreement for 11 months or less after the initial term expires.
Why is it important to register an 11 Month Leave and License Agreement?
Registering an 11 Month Leave and License Agreement protects both the landlord and the tenant. In case of any disputes between the parties, the registered agreement can be used as evidence in court. It also ensures that the landlord is legally protected against any damages caused by the tenant during their occupation of the property. Additionally, registering the agreement can also help the landlord to claim tax benefits on the rental income.
How to Register an 11 Month Leave and License Agreement?
To register an 11 Month Leave and License Agreement, both the landlord and the tenant must be present at the Sub-Registrar`s office. The following documents will be required for registration:
1. Original and photocopy of the agreement
2. Identity proof of both the landlord and tenant (Aadhaar card, passport or voter ID)
3. Two passport size photographs of both the landlord and tenant
4. Electricity bill/ property tax receipt/ water bill of the property
5. PAN Card of the landlord
Once the above-listed documents are submitted, the agreement will be reviewed and verified. After verification, the parties will be asked to sign the agreement in the presence of the Sub-Registrar. The agreement will then be stamped and registered.
Conclusion
Registering an 11 Month Leave and License Agreement in India is a simple yet important legal process that protects both the landlord and the tenant. It`s always best to register the agreement to avoid any disputes in the future. If you need legal assistance in drafting or registering an agreement, you can consult a legal professional with expertise in property laws.
