A Power of Attorney is a legal document by which one person gives the right to perform or powers of transacting in matters relating to property, banking, legal and judicial proceedings, tax payments, etc, to another person due to certain reasons like being out of country, or getting old, or not able to look after one’s duties in those matters etc. A power of Attorney is an authority given by a written formal instrument whereby one person termed the donor or principal authorises another person termed the donee, attorney or agent to act on his behalf.
A general power of attorney will give broad powers to the attorney-in-fact (also known as the agent) you appoint. Some powers that a general power of attorney covers include the following:
- Conducting business and financial transactions
- Operating business interests
- Purchasing life insurance
- Making gifts , Settling claims,Hiring professional assistance.
Sale Deed is a legal document that records the transfer of ownership from the seller to the buyer. While preparing a Sale Deed, all the clauses of the Transfer of Property Act should be carefully examined and drafted to lessen the risks involved. The clauses should be drafted after understanding your requirements and liabilities.
It is one of the most important legal documents required to be executed between the seller and the purchaser to complete the transaction at the time of purchasing a property. These parties are also referred to as the ‘grantor' and ‘grantee' in legal parlance. A sale deed indicates that the title of ownership has been transferred from the seller in favor of the buyer; or in simpler words, the ownership has been changed from the seller to the buyer.
Documents Required for Sale Deed Registration
- Draft of Sale Deed
- Power of Attorney, if any
- Building Plan sanctioned by the Statutory Authority
- Allotment Letter from the Builder/Co-Operative Society/Housing Board
- All title documents of the property owner
- A Copy of all registered previous agreements (in case of resale property)
- Latest tax paid receipts
- Latest electricity bill & receipt for the said property (in case of resale property)
- NOC from Apartment Association (in case of resale property)
An agreement of sale constitutes the terms and conditions of sale of a property by the seller to the buyer. These terms and conditions include the amount at which it is to be sold and the future date of full payment.
Being an important document in the sale transaction, it enables the process of sale to go through without any hurdles. All the terms and conditions included in the agreement of sale must be understood thoroughly by both the parties and obeyed throughout the sale process till the time the sale deed is made. Agreement of sale is the base document on which the sale deed is drafted
Sale deed is the document prepared at the time of full payment made by the buyer and when the actual transfer of the property takes place.
A Partnership is one of the most important forms of a business organization, where two or more people come together to form a business and divide the profits thereof in an agreed ratio. Indian Partnership Act 1932 is the governing law which regulates the partnership firms in India. Registering a partnership firm is of great importance, albeit not mandated by law.
There does not exist, a standard procedure, common throughout the Indian Territory due to the discretionary powers given to the state governments to establish a procedure suiting the needs of the general public. However, the basic steps for registration and requirements such as the existence of a partnership deed are common to all. These facets will be elaborated on in the course of this research.
Partnership is a form of business entity where two or more persons come together to provide the requisite resources and share the profits in an agreed ratio. Section 4 of the Indian Partnership Act 1932 defines partnership as: “The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all”. Persons who have entered into partnership with one another are called individually, partners and collectively a firm, and the name under which their business is carried on is called the firm-name. Every partner can carry on business on behalf of the other. Partnership firms are not separate legal entity while the partners are. A partnership firm cannot be a debtor or creditor and cannot own any property.
Under partnership form of business, there is no separation of ownership and control. The partners act in confidence to each other and act of one partner is binding on another. Partners monitor and manage the firm without any interference. The decision making in case of a firm is relatively a fast process in comparison to that of the Private Limited company, Limited Liability Partnership (LLP).
A lease agreement is a contract between a landlord and a tenant that covers the terms of renting out a property, for some time, usually 12 months or more. The lease agreement also includes the responsibilities of both parties, and it involves all the required information to ensure that both parties are protected.
The lease agreement, therefore, is a very crucial document for both parties, the one who is renting it out and the one who is giving his property on rent. There are several issues wherein the lessor has signed an agreement and the lessee has misused the property or sublet it.
requirements for lease agreement
- Names of all the tenants.
- Limits of occupancy.
- Terms of the tenancy.
- Should specify the amount of rent.
- Security deposits and fees.
- Repairs and maintenance.
- Entry to lease property.
- Restrictions on tenant illegal activities.
- Allowance of pets, Other restrictions by the landlord.
A rental agreement is an agreement or a contract between an owner and the one who gets a temporary possession over anything rented by the owner. The rental agreement could be concerning anything. It could be real estate, vehicles, personal properties or things such as musical instruments, clothes or things like skates or shoes, CD, DVD, or digging machines tools or appliances.
A rental agreement is calculated as a monthly basis. It is a possession of a short period usually of 11 months. For these monthly rents are charged by the landlord and the tenant handles it according to said terms of the agreement.
The rental agreement is a contract of rental which is written among the owner of the property and a renter who desires to have temporary possession of the property. It is distinguished from a lease, which is more typical for a fixed term. The agreement identifies the parties, the property, the term of the rental, the amount of rent for the term. This is typically known as the written agreement involved to specify the terms of the rental, which are organized and managed under contract law.
Contents of a rental agreement
- Names of the lessee, lessor or their authorised agents
- Property description.
- Rent amount, mentioning the due dates, late charges and grace period, Mode of payment.
- Procedure of terminating the agreement before expiry date, and charges applicable, if any.
- Security deposit amount along with account details.
- Procedure ( both normal and emergency) of managing repair requests from tenants/lessee.
For sale or purchase of any property it is necessary or essential, that the property must hold clear & marketable title i.e. the property is free from any rights and saleable, free from easement of others and encumbrances. Before purchase or any property, it is necessary to examine the documents of ownership in Govt. revenue records, to ascertain that whether the property has clear and marketable title i.e it is free from any encumbrances, rights or interest of any third party. Clear title mean the property has a clear title in name of the owner and no other person has any right, claim or encumbrances on it.
The advocate or his authorized officer inquires in the office of Talati, Tehasildar, City Survey Officer, Collector and from revenue records of Govt. for the last 30 / 60 years and collects the information about subsequent entries related to the ownership / transaction of the property.
the title clearance certificate consists of following information :
- Name of present owner/ seller/ buyer and sequence of change of ownership and rights of third party if any, for last 30/60 years.
- Description of property i.e. Plot No., Scheme No., Survey & Hissa No., Block No., City Survey No., Name of Village, Tehasil and District and area/ zone in which the property falls.
- Area of property.
- Important findings from search report.
- Certification of title clearance and marketability of the property.
License Agreement or Leave and License agreement is a written contract between a owner of the property by which the owner grants temporary permission to another person to occupy the property in exchange of occupational charges or License fee for a period not more than 11 months.
License is a permission to do something on an immovable property such as occupation or enjoying benefit thereon or using it for some other purpose . The intention of a License is that the Licensee will have a personal privilege but no interest in the property.
Goods and Service Tax (GST) In registration is compulsory for all businesses/ individuals involved in buying, selling or providing of services in India and having an annual turnover of more than Rs. 20 lakhs. It is also compulsory for those involved in the interstate supply of goods. MyAdvo will help you obtain GST In Registration through a GST registration expert.
- PAN of the Applicant
- Aadhaar card br
- Proof of business registration or Incorporation certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Digital Signature, Letter of Authorization/Board Resolution for Authorized Signatory
We are engaged in offering an optimum quality array of Company Registration Consultant Service for our esteemed customers. Offered array of registration services is rendered as per quality norms defined by the same industry. In addition to this, these registration services are admired for their timely execution.
PAN is an electronic system through which, all tax related information for a person/company is recorded against a single PAN number. This acts as the primary key for storage of information and is shared across the country. Hence no two tax paying entities can have the same PAN.
Pan Card Types - Individual, HUF-Hindu undivided family, Company, Firms/Partnerships, Trusts,Society, Foreigners.