Users' questions

Is agreement valid if not registered?

Is agreement valid if not registered?

Sale Agreement even not registered is enforceable in Law, and shortage of stamp charges can be paid into with the courts order. Agreement is valid for three years from the date mentioned to execute. So file a suit to get the deed registered through court.

What happens if I ask for assignment of lease?

It could kill your sale if your landlord has the right to terminate the lease when you ask for an assignment, so request that the landlord remove this provision—or at least allow it to be modified so it doesn’t apply to the sale of your business.

What happens to the equipment at the end of a lease?

At the end of the lease, the equipment will revert to the lessor. The equipment has a useful life of 8 years and has no residual value. At the time of the lease agreement, the equipment has a fair value of $166,000. An interest rate of 10.5% and straight-line depreciation are used.

What to ask before signing a commercial lease?

Make sure you have documentation that states that the lease has been approved by your board of directors. You should have a corporate resolution to show that your board has considered the lease and has approved it. There should still be some documentation that the lease has been approved even if you don’t have a board of directors.

How much is a lease payment to a lessee?

A lessee makes a lease payment of $79,940 to the lessor in an operating lease transaction. Prepare the journal entry that the lessee should record. What is meant by “sale and leaseback”?

Who is required to be included in a lease agreement?

Any tenants, also known as lessees, that will be living on the property need to be included in the lease agreement. The same goes for the landlord (or landlords if there are multiple owners), also called the lessor, who controls the rental property.

What is a disclosure in a lease agreement?

A disclosure is a statement that relays specific information to the recipient (typically the tenant) concerning the rental property. Most times, these are presented because either local or federal laws require it. General Addendums, Disclosures, & Notices:

What are the state laws for lease agreements?

STATE AGREEMENT LAWS Alabama: Lease Agreement: Title 35, Chapter 9A (Uniform Residential Landlord and Tenant Act) Alaska: Lease Agreement: Alaska Uniform Residential Landlord & Tenant Act (§ 34.03.010 – 34.03.360) Arizona: Lease Agreement: Arizona Residential Landlord and Tenant Act Arkansas: Lease Agreement

What are the terms of a basic lease?

BASIC RENTAL AGREEMENT OR RESIDENTIAL LEASE This Rental Agreement or Residential Lease shall evidence the complete terms and conditions under which the parties whose signatures appear below have agreed.