Rent Agreement Registration: If you also live in a rented house away from home or you have given your property on rent, then this news is of great use to you. Actually, it is very important to have a rent agreement in both these situations.
Rent agreement means 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 Rent Agreement. This is an important document to be completed by both the parties to avoid future disputes.
Now you will ask whether rent agreements are 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 has been let out for less than 11 months, the agreement can be cancelled.
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 protects the interest of both the parties with respect to future disputes.
Registered Rent Agreement or Notarized Which one is better :-
Notarized Rent Agreement
Notarized agreement is a rent agreement printed on 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.
This process requires both the parties (owner and tenant) to appear before a notary. A notarized agreement is much simpler than a registered agreement as it can be done by simply visiting an advocate’s office, and does not require paying any stamp duty and registration charges.
There is only one fee charged by the lawyer for the notary which usually ranges from Rs.200 to Rs.500 depending on 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
Rent agreement can 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 which is printed on 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 rent 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 the Rent Control Act of the Central Government as well as various State Governments do not apply.
If the property is to be given to the tenant for more than 11 months, then all the properties have to be registered. Agreement less than 11 months does not require registration.
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