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Q.BUSINESS LEGAL OWNER MATER
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Q. BUSINESS LEGAL OWNER MATER

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Anonymous

posted 2 months ago

I start a business but business place is in the name of my wife.so is possible 99 yrs agreement without any rent paid?please suggest.
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A. Sir the general rule of a contract is "NO CONDERATION, NO CONTRACT" the contract will be void if there is no consideration.
Such an agreement is only possible by way of a gratuitous gift. HOWEVER, because it is a business place [a valid rent agreement is a necessity] So you need to have a rent agreement. [The payment of the rent can be the minimum rent amount paid at that place according to the market value of the land]
Such an agreement is legally possible only by way of a gift deed but however it shall create further future problems when it comes to the business.
Thanks
Shreyash Mohta

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Shreyash Mohta

Experience: 1 Year(s)

Responded 2 months ago

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A. Dear Sir,
Without consideration no agreement can legally registered except Gift Deed etc.

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A. Dear Sir it could be by agreement
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Sunil Kumar Singh

Experience: 17 Year(s)

Responded 2 months ago

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A. No . It is applicable on only government land or any trust land

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 2 months ago

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Anonymous

Replied 2 months ago

Mera wife se noc le lu tow cholega sir

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Anonymous

Replied 2 months ago

Please sugest better agriment

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Rameshwar Dadhe

Experience: 2 Year(s)

Replied 2 months ago

U can show Ur wife as a business partner or family business

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