The rent agreement is to be registered and the original copy is to be held by the landlord.
Hi who has the right to hold the original rental agreement, the lessor or the lessee?
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
The Lessee has the right to hold the Rental Agreement as he would have advanced certain amount to the Lessor.
Agreement is between two parties. Either party can keep the original. However, in practice the landlord keeps the original and copy is kept by the tenant.
It does not make any difference who holds the original Rental Agreement.
More often than not, it is the Lessor who has custody of the RA.
If you want to avoid confusion execute Two RAs and each one of you can hold one, and that, the other will counter sign on the document held by each one i.e., Lessor signs on Lesssee's RA and Lessee signs on Lessor's RA.
There is no hard and fast rule, even the tenant bear the costs associated with the rental agreements the landlord keeping the original and the tenant keeping the copy is the norm. However, original can be kept with either party as per mutual consent.
There is no law in this.
If there is difference of opinion on this then make two copies in original so each of you can keep one.
If its registered deed then the person who bears the cost if registration keeps the original.
Hello,
1. The Landlord (Lessor) should be holding the original Rent /Lease Agreement, and a notarized should be held by the Tenant (Lessee), for their purposes of own individual Income Tax Returns etc....
There is no such law governing the matter. In respect of unregistered tenancy agreement, it is better to prepare a set of two documents, execute them and share them between the landlord and the tenant. In the case of registered rental agreements, let the original and a copy be registered together. As both are registered, it does not legally matter who holds what.
Dear Client,
Lessor has the right to keep the original Rent Agreement. If the lessee want to have the rent agreement than he may also get a copy of the same and get it notorised.
In general practice lessor gets to keep the original agreement and lessee get copy of agreement but there is no fixed rule regarding document possession.
- The lessor , and the lessee will keep a copy of the same
- However legally there is not fixed , that who will keep the original, and can produced upon the requirement by either of the parties.