Rent Agreement Registration: If you also live in a rented house somewhere away from home or you have given your property on rent, then this news is of great use to you. Actually, in both these situations, it is very important to have a rent agreement.
Rental Agreement means that whenever a person gives his house or any kind of property on rent. After which the legal proceedings between him and the tenant are called rental agreement. It is an important document to be completed by both the parties to avoid future disputes.
Now you will ask, are the rent agreements also different? Yes. Today we are going to give you information about these. While giving property on rent, if the lease is for more than 11 months, then it is mandatory to have the rent agreement registered or notary’s seal. However, if the property is let out for less than 11 months, the agreement can be set aside.
At a time when disputes regarding tenants are increasing rapidly, it is necessary to have a rent/lease agreement. Once both the parties agree to the terms and conditions written in the agreement, it cannot be changed without their mutual consent. Registering the rent agreement safeguards the interest of both the parties regarding future disputes.
Registered Rent Agreement or Notarized Which one is better :-
Notarized Rent Agreement
Notarized agreement is a rent agreement printed on a stamp paper signed by a public notary. In India, notaries public are mainly lawyers and advocates. In case of notarized agreement, the notary attests the identity and documents of both the parties.
Both the parties (owner as well as tenant) will have to appear before a notary for this process. A notarized agreement is much simpler than a registered agreement as it can be done by simply visiting a lawyer’s office, and does not require paying any stamp duty and registration charges.
Only one fee is charged by the lawyer for the notary which usually ranges from Rs.200 to Rs.500 according to the locality. However, it is to be noted that in case of any legal proceedings, the notarized agreement is not admissible in the court, as it does not validate the rental transaction.
Registered rent agreement
Rental agreement may be oral, written or implied. However, the written agreement states the terms and conditions agreed upon by both the parties and serves as proof in case of disagreement.
Registered Rent Agreement is a rent agreement printed on a stamp paper and registered with the sub registrar of the area. Some cities/states offer the facility of online registration of such documents.
Another important advantage of getting the rental agreement registered is that it acts as a legal proof and protects the landlord from any legal disputes in future. If the rent agreement is not registered, then the provisions of Rent Control Act of Central Government as well as various State Governments are not applicable.
If the tenant has to give the property for more than 11 months, then all the properties have to be registered. Registration is not required in the agreement of less than 11 months.
You may also like
