What is the min duration for rental agreement
I vaguely remember that a rental agreement can be made only for a duration of 11 months and thereafter it can be furtehr extended if and when both parties wish to continue. This is more to do with commercial shops and residential houses/apartments in Karnataka.
1. What is the minumum or maximum duration that can be imposed in a rental agreement?
2. What are the restrictions of clauses that can be or cannot be imposed in a rental agreement?
3. How important is to have a witness signature? [More often than not, there are hardly any witness present during such transactions] Should the witness be mutally known to landlordy and tenant?
4. Who can be the sole owner to keep the original rental agreement?
5. Can the landlord ask the tenant to vacate the premises post contract even if the tenant wishes to continue?
6. What is a Rent Control Act? Is it still prevailing? Who can impose it?
7. Is there a minimum or maximum limit to the percentage of hike each year?
8. Is there a minimum stamp value that needs to be followed? For example, if the rent is 10k and 1lakh, what should be the stam value?
Asked in Civil Law from Bangalore, Karnataka
Please read the last question as below:
8. Is there a minimum stamp value that needs to be followed? For example, if the rent is 10k and 1lakh advance*, what should be the stamp* value?
Asked 3 years ago
1) please check the stamp duty act of your state for stamp value on the agreement . every state has its own stamp act .
2) agreement can be for 11 months or more . it need not be only for 11 months
3) for clauses in leave and licence agreement your lawyer will guide you and protect your interests
4) in case of sale deed, gift deed etc necessary to have 2 witnesses .
4) licensor will keep the original . certified copy will be handed to you .
5) yes on expiry licensor can ask licencee to vacate the premises .
6)every state has its own rent act .
7)hike to be imposed in case of leave and licence agreement is determined by contract between parties .
8)as per stamp act of your state