• Rental lease

i want to take a flat paying 5lacs one time advance i will not be paying rent insted the rent is adjusted from the interest of the advance amount is there any method to execute agreement i will vacate when the advance amount is returned pl answer
Thinakarasundaram
Asked in Property Law from Bangalore, Karnataka
you can enter into leave and licence agreement with nominal licence fee and security deposit of Rs 5 lakhs .
Ajay Sethi
Advocate, Mumbai
28513 Answers
1548 Consultations

5.0 on 5.0

1. If it is a tenancy agreement, the rent is not specified clearly,

2. The interest on Rs.5 lakhs advance will not be the same always,

3. There sould be some rent to be mentioned in the agreement,

4. Other clauses like notice period also shall have to be mentioned therein.
Krishna Kishore Ganguly
Advocate, Kolkata
13928 Answers
309 Consultations

5.0 on 5.0

1/ All such agreements permissible under law is possible if both the parties so agree.
2. In your proposal there is nothing illegality. So if the landlord agrees , you can proceed with this.
3. However such terms are to be properly mentioned in the agreement to be so executed  along with other terms as mutually agreed between two of you.
Devajyoti Barman
Advocate, Kolkata
7299 Answers
83 Consultations

4.9 on 5.0

It can be done legally.
Shashidhar S. Sastry
Advocate, Bangalore
1338 Answers
75 Consultations

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dear client you aim is fulfill through leave and license agreement , this agreement is available on line, if you want I will prepare this,you can contact me, on sun.ks5737@gmail.com
Sunil Kumar Singh
Advocate, Kanpur
15 Answers
6 Consultations

4.0 on 5.0

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