What is a lease deed?

A lease deed is a legally binding contract between lessor and lessee defining terms and conditions with regard to the property to be leased out. It confirms the rights, interests of the lessee over the leased property on payment of rent for the use of such leased property during the term of lease.

Sale Deed

Q. What is the scope of the deed of sale?

A sale deed acts as the main legal document for confirming sale and transfer of ownership of property in support of the buyer, from the seller.

Q. Who prepares a sale deed?

The owner of the property will prepare the sale deed. They have the right to prepare and alter the sale deed. So, it is one of the most important documents in buying or selling a home.

Q. Who should pay the deed of a sale?

The buyer is the one who pays the stamp duty and the registration charges. The seller needs to clear all the payments that are related to the property. The property might be property tax, water, and electricity charges before the sale deed is signed.

What is a Start-up?

Under the Start-up India Action Plan, the Indian Government has notified the definition of ‘Start-up’ under G.S.R. notification 127 (E) dated February 19, 2019. As per the definition, an entity shall be considered as a Start-up if it satisfies the following criteria:

  1. The entity is incorporated/ registered as:

  1. private limited company; or

  2. partnership firm; or

  3. limited liability partnership.

  1. If already incorporated/ registered, the entity is less than 10 years old;

  2. The Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees;

  3. The entity is:

  1. working towards innovation, development or improvement of products or processes or services; or

  2. scalable business model with a high potential of employment generation or wealth creation.

The entity is not formed by splitting up or reconstruction of an existing business.

What is a Will?

A Will is a legal declaration of the intentions of a testator with respect to his property which he desires to be carried into effect after his death.

Who can make a Will?

Any person who is of sound mind and not a minor (below age of 18 years) may dispose of his property by making a Will.

Examples:- (i) ‘A’ is deaf, dumb and blind, but knows what he is doing by making a Will. ‘A’ can execute a valid Will;

(ii) ‘A’ is very feeble and debilitated, but capable of exercising a judgment as to the proper mode of disposing of his property. ‘A’ can execute a valid Will;

(iii) ‘A’ executes an instrument purporting to be his Will, but he does not understand the nature of the instrument, or the effect of its provisions. ‘A’ has not executed a valid Will;

(iv) ‘A’ executes an instrument purporting to be his Will while he was intoxicated and not in a state of mind of knowing what he is doing. ‘A’ has not executed a valid Will