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Q. House renting

Hello Sir, I wanted to know is there any legal contract for renting some house for 11 months without paying any rent but there will be a bulk amt like 3 lacs which need to be given to landlord until you vacant the place , once you leave that flat 3 lac will be given to you. On that contract there is a condition that I will not charge any interest for those 3lac(tenant) and landlord will not ask for any rent. Please suggest me is it legal
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A. Dear Sir,
Your proposal is called leasing the property for 3 years or more. It is fine. Get a document on stamp paper and get it registered if you wish to more secure and transfer the amount only through bank or pay through Cheque or Demand Draft.
11 months period is fixed if you go for monthly rent basis under section 106 of Transfer of Property Act.
For full procedure contact me on mobile through Vidhikarya.

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A. Sir,
Eventhough it cannot be said to be legal there can be a contract entered mentioning the facts and retaining post dated security cheque.

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Anand

Experience: 10 Year(s)

Responded 2 months ago

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A. Dear Client,
It will not come under House Rent/ House Rent Agreement or there will be no relationship between landlord and Tenant.
This will be under some other Agreement which you will enjoy Rent Free accommodation towrds the Principal amount you will be given on loan.
Shanti Ranjan Behera
Advocate

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Shanti Ranjan Behera

Experience: 22 Year(s)

Responded 2 months ago

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A. Sir, I believe according to your query such a contract will ultimately mean that the land lord is getting nothing.
Try to understand. The landlord gets 3lac initially and no rent. [this is completely fine] BUT, he needs to repay that once you vacate the house after 11 months. That means he got nothing. Again, It is also said that there is no rate of interest on that amount hence his earnings is zero. Plus again there is a condition that the landlord will no ask for rent as he has got 3lac initially.

So, Sir, technically the landlord gets nothing. which is again not forming the basic principle of a contract.

"No consideration, No contract'

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Shreyash Mohta

Experience: 1 Year(s)

Responded 2 months ago

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