Legal Drafting
Rented Deed
A rental agreement is commonly referred to as a rent deed. The clauses of the lease, the names of the owner and tenant, the property's specifications, the duration of the rent term, and the rent payment for that time period are all listed in the agreement. Most contracts are often signed for a period of 11 months in order to avoid paying stamp duty and other fees. In line with the Registration Act of 1908, a lease agreement must be registered if its duration exceeds 12 months.
Partnership Deed
When embarking on a company venture with more than two partners, the participants should outline their respective profit and loss allocations in a formal agreement, often known as a partnership deed or agreement. It supports them in carrying out their legal obligations towards the company. All alliance clauses are pre-negotiated, which assists in mitigating confusion and misunderstandings between the partners. Therefore, it is recommended to have a well-written partnership deed rather than verbal agreements.
Sale Deed
A sale deed plays a significant legal role in the negotiation between the buyer and the seller by acting as an official record. It is done as part of buying or selling real estate, as it is imperative for supporting property rights. In a sale deed, ownership is transferred from the seller to the buyer, who is still in full possession of the property. The sales deed must contain information on any outstanding paperwork, including taxes and electricity/ water bills.A sale deed plays a significant legal role in the negotiation between the buyer and the seller by acting as an official record. It is done as part of buying or selling real estate, as it is imperative for supporting property rights. In a sale deed, ownership is transferred from the seller to the buyer, who is still in full possession of the property. The sales deed must contain information on any outstanding paperwork, including taxes and electricity/ water bills.
Lease Deed
As stated by Section 105 of the Transfer of Property Act, a lease is the conveyance of the right to possess any property, land, or estate for a predetermined period of time or for a lifetime. Consequently, a lease agreement is typically advisable when a property is rented for an extended period of time, which typically runs between 1 and 5 years or more. It is essential because it controls the relationship between the landlord and the tenant and puts into practise the clauses that legally bind them.
Joint Venture Deed
In a fundamental sense, a joint venture is a tactical collaboration when two or more businesses or individuals agree to contribute money, goods, and services to set up a business endeavor. The existence of a joint venture deed is crucial in these circumstances, as it could help keep the partnership successful. In India, one can choose between a contractual joint venture and an equity-based joint venture.
Will Deed
The Indian Succession Act, 1925, defines a will deed as a legal instrument that grants ownership of tangible property and financial assets to the testator's (the person who prepares the will) heirs upon the testator's passing. It includes instructions on how assets should be distributed and disposed of, preventing any potential future legal issues among the heirs. However, it can be revoked through the writing of a new will, the destruction of the old one, or a written declaration.
Gift Deed
In India, gifts of real estate are governed by the Transfer of Property Act, 1882. To give away a piece of property, a gift deed must be made, transferring ownership to the recipient. The gift of immovable property will go into effect as soon as the gift deed is submitted to the authorized Registrar or Sub-Registrar. The transfer of moveable property takes effect when the gift deed becomes legal or when the property is delivered. The ownership of the property passes from the giver to the donee after the gift deed is recorded.
Adoption Deed
A legally binding document known as an adoption deed must be made to formally acknowledge the adoption. In this case, the filiation and all rights and obligations of the biological parent or parents are transferred to the adoptive parents.It entails creating a parent-child relationship between people who are not biologically related to one another. The adoptive family bestows on the adopted child the advantages, privileges, and duties of a child and heir.
Deed Writing
A deed is essentially a contract that establishes obligations and liabilities that are shared by both parties; therefore, deed drafting is crucial for businesses and individuals dealing in services and goods. We at JUSTICE IN YOU, can assist you with deed drafting and make it a hassle-free experience for you. It contains information such as Deed title, Place & date of execution, Description of parties and property, numerous clauses, Signature and attestation among other things.
