Difference between Registered and Notary Rent Agreement

On the other hand, in the authentication process, the authorized notary mentions the details of the document such as the names of the parties, the type of document, etc. in his register with a unique number. In short, a licensed notary can complete certain legal formalities, including creating or certifying contracts, deeds and other documents. Which agreement is preferred, registered or notorized in the interest of a housing association? A notarized agreement can only be considered as a valid proof of address in certain cases, for example, by . B when receiving a new phone connection or Wi-Fi connection, etc. However, for any action in which the government is involved, . B like applying for a passport or renewing the passport, claiming HRA deductions, etc., a registered rental agreement is required. All leases entered into for a period of more than 11 months must be registered with the Deputy Registrar`s Office. The Sub-Registrar verifies the validity of the entire document and also checks whether the required stamp duty has been paid or not, only after he registers the agreement. Stamp duty and registration fees for rental vary from state to state, and reference is made to that state`s stamp duty law. The Registrar or Sub-Registrar usually checks the entire document and verifies the stamp duty and deposit fees paid through E-Challan. It also verifies that the holder of the power of attorney is duly authorized and that he has the appropriate authority to sign and register the agreement on behalf of the owner.

Once the Registrar or Deputy Registrar has completed all of the above, the same agreement is registered by assigning a unique registration document number as well as a digital fingerprint and SRO stamp, receipt of payment and Index 2 of authorized premises, which can also be the other way around; Imagine living together in one place for many years and paying nominal rent, then suddenly your landlord increases the rent and you have no choice but to pay. Well, if there had been a lease, such a situation would not have occurred. Therefore, the lease is an essential legal document that sets out the terms of the lease, and these terms are binding on the parties to the contract. A notarized agreement is an agreement that is certified by a notary. The notary only verifies the identity of the licensors and licensees who sign the contract and stamps the contract as “Signed in front of me”. The rental notary can be done on both Rs 100 stamp paper and 500 rupee stationery, but stamp paper can vary depending on the rent, which means that if the rent is less than Rs 15000, we can use 100 rupee stamp paper and if the rent is above Rs 15000, we have to use 500 rupee stamp paper. With our calculator you can calculate the fees for the individual case. Here`s the fundamental difference between a notarized contract and a registered contract in a home rental business: A great advantage of a registered lease is that any action in which the government is involved, such as passport application, passport renewal, HRA deduction application, etc., requires a registered rental agreement. A notarized agreement can only be treated as a valid proof identification address and cases such as a new phone connection or Wi-Fi connection, etc.

are valid. The process of getting a registered lease online is as follows: Now that we have understood the basics of lease registration, let`s understand the procedure for registering a rental agreement: now that you have answered all your doubts regarding the notarization and registration of leases, why not try creating a lease with LegalDesk. All you need is a good internet connection and a few important details from both parties to the agreement, and you`re ready to draft your lease in minutes. Once you have created the document, let us have it printed on a stamp paper with the required value and delivered. We take care of all this and more. As part of the “certification”, a notary verifies and certifies the authenticity of the parties who sign the documents. A notary is an official appointed by the central/state government in accordance with the provisions of the Notarial Act of 1952. In addition, a copy of the registered lease is always in government documents, in which, as with notarized contracts, there are only minor details.. .