Friday, 28 August 2015

Difference between notarized and registered rent(lease) agreement

Rent agreement is a legal contract done between landlord and tenant.
There are 2 types of rent agreements in India.

  1. Notarized
  2. Registered
The notarized rent agreement is the one which can be executed by authorized advocate (also called as Notary) on 500 Rs. stamp paper. It's fairly simple process. Tenant and landlord needs to sign the contract along with 2 witnesses. 
While registered rent agreement is the one which has to be executed by paying stamp duty and registration fee at registration office. In case you are buying a car or bike, you need to submit the registered agreement with RTO office. They will not accept notarized one.

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