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A fully built home lying vacant is a massive waste of money and resources at the macro level. These are resources that could easily be used somewhere else ....
The Union Cabinet on Wednesday approved the Model Tenancy Act under which separate rent authorities, courts and tribunals will be set up in districts to protect the interest of both the owner and tenant. For residential premises, tenants will have to submit security deposit of maximum two months rent, while incase of commercial property, six months rent will have to be deposited. States and union territories can adopt the Model Tenancy Act by enacting fresh legislation or they can amend their existing rental laws suitably. The Act mandates for written agreement for all new tenancies, which will have to be submitted to concerned district Rent Authority . ....
To print this article, all you need is to be registered or login on Mondaq.com. Section 19 of the Indian Contract Act, 1872 provides that in an agreement where consent to an agreement if caused by coercion, fraud or misrepresentation, such agreement is voidable at the option of the parties. The exception to the aforesaid section provides that if such consent was caused by misrepresentation or by silence, fraudulent within the meaning of Section 17, the contract is voidable, if the party whose consent was so caused had the means of discovering the truth with ordinary diligence. Ordinary diligence or due diligence is an important step before ....
b. its successor in interest, c. or a trustee, guardian or receiver receiving rent for a premises on behalf, on account of or for the benefit of a person ineligible to enter into contracts. Premises- b. parking, garage or grounds, out houses, appertaining to building, not including d. hotels, lodging dharamshala, inn e. owned or promoted by government, government entities, cantt, religious, charitable institutions, owned by trust, wakf, f. given on rent to employees as per service contract, g. premises of public interest, as may be notified. Points e, f, g can be covered voluntarily. Tenant or ‘Lessee - b. on whose behalf or on whose account, rent is payable for any ....
To print this article, all you need is to be registered or login on Mondaq.com. The Model Tenancy Law has been prepared by the Ministry of Housing and Urban Affairs with an objective to balance the interests and rights of the landlords and tenants. Chapter VI of the Model Tenancy Law deals with the Rent Authorities, their power and procedure for appeals and Chapter VII of the Model Tenancy Law deals with Rent Court, Rent Tribunal, procedure to be followed in rent court and rent tribunal, powers of the rent court and rent tribunal, procedure for appeal to the rent tribunal. ....