Since this is an inter-maritime agreement between partners and/or LLP, it covers the management aspect of LLP, for example. B when partner meetings take place, who can convene a partner meeting, if a particular partner has specific management authority, etc. The LLP Agreement is an agreement between LLP`s partners or between LLP and its partners. It is also possible to have multiple LLP agreements between partners and/or LLP. The law requires that such an agreement be submitted to the Registrar within thirty days of the establishment of the agreement. Ji, lease/lease is executed by ABC (LLP) by its managing partner/MD and owner (Mr. X and Mrs. X) for a set period of time on a monthly/annual rent basis. the deed of rental is registered regardless of the duration of the lease. The rental agreement or lease is processed on a stamp document.
There are 2 types of rental in India, one is a lease that lasts at least 12 months. This is governed by the rent control laws adopted by the Land Government. The other type is a rental and license agreement with a maximum duration of 11 months, which is not covered by rent control laws. The day-to-day operation, delegation of powers, operation of the bank, etc., are also included in this agreement Mrs X and Mrs Y are joint designated partners of ABC LLP, whose registered office is located in a house owned by Mrs X and Mr X. Now, the above LLP is working to sign a lease with Mr. X who takes a room above the house for abc`s operation. Is this lease valid from a legal point of view, given that Mrs X is also co-owner of the whole house? Mrs. Y has no property. Are such leases under the LLP Act correct for choosing the rent paid as expenses of the aforementioned LLP? One of the most common features when entering into a real estate rental transaction in India is the prevalence of the 11-month lease or licensing agreements.
An 11-month period is preferred by most landlords when entering into real estate rentals, as there are two types of agreements that deal with real estate rental in India, lease and leave and license agreement….