Rent Agreement in India A rental agreement is an official contract signed between the owner of a property and the tenant who wishes to take temporary possession of the property for a said period of time. Also called a rent deed and lease deed, a rental agreement contains basic details of the residential property, the owner of the property, the renter (or tenant, as he is also called), the term of the rental, and the amount of the rent for the said term. Why should you register a rent agreement? A registered rental agreement is one of the most important parts of a landlord-tenant relationship. Not only does it foster the relationship between the two parties but it also protects their rights. Further, it informs others about the ownership of the property. The landlord/tenant should never settle for an oral agreement since it is not bound by law and therefore, should always insist on executing a written agreement. Another key benefit of registering a rental agreement is that i
Gift Deed WHAT IS GIFT DEED A Gift Deed is a legally binding document that is used when one person wants to transfer a gift to another person without the exchange of money. The person who is giving the gift(owner) is called a donor and the person who is receiving the gift(receiver) is called as donee. What are the benefits of a Gift Deed? A Gift Deed records the transfer of property to the donee. The complete details of the property and the details of the parties to the transaction make this document a legal proof to the title of the property. A Gift Deed is of evidentiary value before the Courts in event of any future disputes that may arise. A Gift Deed serves as legal protection to the parties in event of any disputes that may arise in the future. The written agreement makes the entire transaction smoother for the parties and without a glitch. What are the essential elements of a Gift? A transfer which is defined as conveying of property; Voluntary